Norges Bank Takes $171.15 Million Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Norges Bank bought a new position in Dollar Tree, Inc. (NASDAQ:DLTR) during the fourth quarter, Holdings Channel reports. The firm bought 2,283,808 shares of the company’s stock, valued at approximately $171,149,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. increased its holdings in Dollar Tree by 74.1% during the 4th quarter. Assetmark Inc. now owns 350 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Dollar Tree during the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust grew its holdings in Dollar Tree by 120.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 424 shares of the company’s stock worth $32,000 after buying an additional 232 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Dollar Tree by 91.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 440 shares of the company’s stock worth $33,000 after buying an additional 210 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Dollar Tree in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Dollar Tree Price Performance

Dollar Tree stock opened at $72.75 on Monday. The firm has a market capitalization of $15.65 billion, a P/E ratio of -15.25, a PEG ratio of 2.16 and a beta of 0.91. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $137.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The business has a fifty day moving average price of $71.17 and a 200-day moving average price of $70.27.

Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Wednesday, March 26th. The company reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the business earned $2.55 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their price objective on shares of Dollar Tree from $79.00 to $85.00 and gave the stock an “in-line” rating in a report on Thursday. Guggenheim reduced their price objective on shares of Dollar Tree from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group increased their price objective on shares of Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler restated a “neutral” rating and issued a $72.00 target price (up previously from $67.00) on shares of Dollar Tree in a research note on Thursday, December 5th. Finally, UBS Group decreased their price target on Dollar Tree from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.42.

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.