Sumitomo Mitsui Trust Group Inc. Increases Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Sumitomo Mitsui Trust Group Inc. grew its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 484,797 shares of the company’s stock after purchasing an additional 4,397 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Dollar Tree were worth $36,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Equity Investment Corp grew its holdings in Dollar Tree by 95.9% during the 3rd quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock worth $107,264,000 after acquiring an additional 746,913 shares in the last quarter. Canoe Financial LP bought a new position in Dollar Tree during the 3rd quarter worth about $46,576,000. State Street Corp grew its holdings in Dollar Tree by 6.8% during the 3rd quarter. State Street Corp now owns 9,427,910 shares of the company’s stock worth $662,971,000 after acquiring an additional 596,191 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Dollar Tree by 238.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 693,950 shares of the company’s stock worth $48,799,000 after acquiring an additional 489,074 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Dollar Tree by 45.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,351,632 shares of the company’s stock valued at $95,994,000 after buying an additional 425,245 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Performance

DLTR opened at $72.24 on Wednesday. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $151.21. The company has a current ratio of 1.03, a quick ratio of 0.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $15.53 billion, a PE ratio of -15.14, a P/E/G ratio of 2.11 and a beta of 0.89. The firm has a 50 day moving average of $72.88 and a two-hundred day moving average of $75.20.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.05. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same period last year, the firm posted $0.97 EPS. Dollar Tree’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Loop Capital raised their price target on shares of Dollar Tree from $65.00 to $75.00 and gave the company a “hold” rating in a report on Thursday, December 5th. KeyCorp cut shares of Dollar Tree from an “overweight” rating to a “sector weight” rating in a report on Thursday, November 7th. Truist Financial raised their price target on shares of Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Sanford C. Bernstein assumed coverage on shares of Dollar Tree in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $76.00 price target on the stock. Finally, Jefferies Financial Group raised their price target on shares of Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Seventeen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Dollar Tree presently has a consensus rating of “Hold” and a consensus target price of $85.58.

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.