Element Capital Management LLC Purchases Shares of 26,374 Dollar Tree, Inc. (NASDAQ:DLTR)

Element Capital Management LLC purchased a new stake in Dollar Tree, Inc. (NASDAQ:DLTR) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,374 shares of the company’s stock, valued at approximately $3,786,000.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Dollar Tree by 0.3% in the first quarter. BlackRock Inc. now owns 16,041,782 shares of the company’s stock valued at $2,302,798,000 after buying an additional 50,496 shares in the last quarter. Mantle Ridge LP increased its holdings in shares of Dollar Tree by 11,365,431.0% in the first quarter. Mantle Ridge LP now owns 11,365,531 shares of the company’s stock valued at $1,820,190,000 after buying an additional 11,365,431 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Dollar Tree by 6.4% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,864,910 shares of the company’s stock valued at $688,093,000 after purchasing an additional 290,842 shares during the period. Morgan Stanley raised its stake in Dollar Tree by 95.9% during the 4th quarter. Morgan Stanley now owns 4,383,897 shares of the company’s stock valued at $620,059,000 after purchasing an additional 2,145,910 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in Dollar Tree by 0.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,063,966 shares of the company’s stock valued at $574,808,000 after purchasing an additional 26,903 shares during the period. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Performance

DLTR stock traded up $1.37 during mid-day trading on Wednesday, reaching $117.64. 979,232 shares of the stock traded hands, compared to its average volume of 2,215,585. The company has a quick ratio of 0.20, a current ratio of 1.48 and a debt-to-equity ratio of 0.38. Dollar Tree, Inc. has a 52 week low of $115.93 and a 52 week high of $170.36. The business has a 50-day moving average of $142.95 and a two-hundred day moving average of $144.57. The firm has a market capitalization of $25.88 billion, a PE ratio of 21.46, a P/E/G ratio of 7.26 and a beta of 0.73.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Dollar Tree had a net margin of 4.16% and a return on equity of 14.24%. The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.18 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts predict that Dollar Tree, Inc. will post 5.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Dollar Tree from $172.00 to $162.00 and set a “buy” rating on the stock in a research note on Friday, August 25th. BMO Capital Markets lowered their price target on shares of Dollar Tree from $187.00 to $170.00 in a report on Friday, May 26th. Piper Sandler lowered their price target on shares of Dollar Tree from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, August 25th. Guggenheim restated a “buy” rating and set a $155.00 price target on shares of Dollar Tree in a report on Wednesday, August 30th. Finally, Evercore ISI lowered their price target on shares of Dollar Tree from $165.00 to $155.00 in a report on Friday, May 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $152.82.

Insider Activity

In other news, insider Jennifer Hulett sold 1,484 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $143.61, for a total transaction of $213,117.24. Following the completion of the transaction, the insider now owns 6,825 shares of the company’s stock, valued at $980,138.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by company insiders.

Dollar Tree Company Profile

Dollar Tree, Inc operates discount variety retail stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.