Renaissance Technologies LLC Acquires 867,054 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Renaissance Technologies LLC boosted its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 488.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,044,595 shares of the company’s stock after purchasing an additional 867,054 shares during the quarter. Renaissance Technologies LLC owned about 0.49% of Dollar Tree worth $111,531,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in Dollar Tree in the 4th quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Dollar Tree in the 2nd quarter valued at approximately $26,000. United Community Bank acquired a new position in Dollar Tree in the 4th quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new position in Dollar Tree in the 1st quarter valued at approximately $28,000. Finally, Mather Group LLC. raised its holdings in Dollar Tree by 198.9% in the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock valued at $30,000 after acquiring an additional 187 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Up 3.2 %

NASDAQ DLTR opened at $71.91 on Tuesday. The stock has a fifty day moving average of $93.23 and a 200-day moving average of $111.42. The stock has a market capitalization of $15.46 billion, a P/E ratio of -15.67, a price-to-earnings-growth ratio of 2.82 and a beta of 0.87. Dollar Tree, Inc. has a 52 week low of $60.81 and a 52 week high of $151.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.17 and a current ratio of 1.02.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). The firm had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. On average, equities research analysts forecast that Dollar Tree, Inc. will post 5.33 EPS for the current year.

Insider Activity

In other news, Director Daniel J. Heinrich bought 2,200 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $68.27 per share, with a total value of $150,194.00. Following the purchase, the director now owns 9,823 shares of the company’s stock, valued at $670,616.21. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Robert Aflatooni sold 827 shares of Dollar Tree stock in a transaction on 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 directly owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Heinrich acquired 2,200 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $68.27 per share, with a total value of $150,194.00. Following the completion of the purchase, the director now owns 9,823 shares of the company’s stock, valued at $670,616.21. The disclosure for this purchase can be found here. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DLTR shares. Telsey Advisory Group cut their price target on Dollar Tree from $120.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. BMO Capital Markets cut Dollar Tree from an “outperform” rating to a “market perform” rating and cut their price target for the company from $130.00 to $68.00 in a report on Thursday, September 5th. KeyCorp dropped their target price on Dollar Tree from $145.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Citigroup dropped their target price on Dollar Tree from $120.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Guggenheim dropped their target price on Dollar Tree from $150.00 to $120.00 and set a “buy” rating for the company in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.53.

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.