State of Michigan Retirement System Lowers Stock Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

State of Michigan Retirement System reduced its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,669 shares of the company’s stock after selling 600 shares during the quarter. State of Michigan Retirement System’s holdings in Dollar Tree were worth $7,545,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Citizens Business Bank acquired a new stake in shares of Dollar Tree in the 1st quarter valued at approximately $2,791,000. Norris Perne & French LLP MI lifted its holdings in shares of Dollar Tree by 1.9% in the 1st quarter. Norris Perne & French LLP MI now owns 135,676 shares of the company’s stock valued at $18,065,000 after buying an additional 2,507 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of Dollar Tree in the 1st quarter valued at approximately $28,000. Indiana Trust & Investment Management CO lifted its holdings in shares of Dollar Tree by 168.4% in the 1st quarter. Indiana Trust & Investment Management CO now owns 416 shares of the company’s stock valued at $55,000 after buying an additional 261 shares during the period. Finally, Cardinal Capital Management lifted its holdings in shares of Dollar Tree by 13.9% in the 1st quarter. Cardinal Capital Management now owns 39,449 shares of the company’s stock valued at $5,253,000 after buying an additional 4,828 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dollar Tree

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was 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 owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is owned by company insiders.

Dollar Tree Trading Down 0.1 %

Shares of NASDAQ:DLTR traded down $0.14 during midday trading on Tuesday, reaching $107.11. The company’s stock had a trading volume of 1,953,727 shares, compared to its average volume of 2,820,499. The firm has a market cap of $23.02 billion, a price-to-earnings ratio of -23.34, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88. The company has a quick ratio of 0.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. Dollar Tree, Inc. has a 1 year low of $101.85 and a 1 year high of $154.96. The business has a 50 day moving average price of $114.48 and a 200 day moving average price of $128.33.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, June 5th. The company reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.63 billion. During the same quarter in the previous year, the business earned $1.47 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts forecast that Dollar Tree, Inc. will post 6.66 EPS for the current year.

Analyst Ratings Changes

DLTR has been the subject of several research reports. Citigroup cut Dollar Tree from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $163.00 to $120.00 in a report on Thursday, June 6th. Gordon Haskett cut Dollar Tree from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $150.00 to $140.00 in a report on Wednesday, April 3rd. Jefferies Financial Group reduced their price objective on Dollar Tree from $130.00 to $128.00 in a report on Thursday, March 14th. UBS Group reduced their price objective on Dollar Tree from $170.00 to $155.00 and set a “buy” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on Dollar Tree from $152.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.45.

Dollar Tree Profile

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.