Van ECK Associates Corp Increases Stock Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

Van ECK Associates Corp grew its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 8.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,600 shares of the company’s stock after purchasing an additional 1,952 shares during the period. Van ECK Associates Corp’s holdings in Dollar Tree were worth $2,627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in DLTR. Benjamin F. Edwards & Company Inc. increased its position in shares of Dollar Tree by 6.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,987 shares of the company’s stock worth $282,000 after acquiring an additional 123 shares during the period. M&T Bank Corp grew its stake in shares of Dollar Tree by 7.5% in the 4th quarter. M&T Bank Corp now owns 12,010 shares of the company’s stock valued at $1,706,000 after purchasing an additional 838 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Dollar Tree by 15.3% in the 4th quarter. Metis Global Partners LLC now owns 8,827 shares of the company’s stock valued at $1,254,000 after purchasing an additional 1,172 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Dollar Tree by 29.6% in the fourth quarter. Private Advisor Group LLC now owns 7,780 shares of the company’s stock valued at $1,079,000 after buying an additional 1,775 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Dollar Tree by 15.5% during the fourth quarter. Apollon Wealth Management LLC now owns 3,711 shares of the company’s stock worth $527,000 after purchasing an additional 498 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler cut their price target on Dollar Tree from $112.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday. Barclays cut their price target on Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday. KeyCorp cut their price target on Dollar Tree from $145.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial dropped their target price on Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday. Finally, BMO Capital Markets lowered Dollar Tree from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $130.00 to $68.00 in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Dollar Tree currently has an average rating of “Hold” and a consensus target price of $97.63.

Insider Buying and Selling at Dollar Tree

In related news, insider Robert Aflatooni sold 827 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $105.58, for a total transaction of $87,314.66. Following the completion of the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 6.80% of the company’s stock.

Dollar Tree Stock Performance

Shares of DLTR opened at $68.47 on Friday. The company has a market capitalization of $14.72 billion, a PE ratio of -14.92, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. Dollar Tree, Inc. has a one year low of $60.81 and a one year high of $151.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.23. The company’s fifty day moving average price is $98.65 and its 200 day moving average price is $115.69.

Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. The business had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.49 billion. During the same quarter last year, the firm posted $0.91 earnings per share. Dollar Tree’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that Dollar Tree, Inc. will post 6.46 earnings per share for the current year.

About Dollar Tree

Dollar Tree, Inc operates retail discount 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.