Dollar Tree, Inc. (NASDAQ:DLTR) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 52.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,308 shares of the company’s stock after selling 33,981 shares during the period. CIBC Asset Management Inc’s holdings in Dollar Tree were worth $2,346,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Versant Capital Management Inc purchased a new position in Dollar Tree in the 4th quarter valued at $30,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Dollar Tree by 91.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 440 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares during the period. Eastern Bank purchased a new stake in shares of Dollar Tree in the third quarter valued at about $34,000. First Horizon Advisors Inc. increased its stake in shares of Dollar Tree by 105.6% during the third quarter. First Horizon Advisors Inc. now owns 553 shares of the company’s stock worth $39,000 after acquiring an additional 284 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in Dollar Tree by 738.7% during the third quarter. Sunbelt Securities Inc. now owns 629 shares of the company’s stock worth $44,000 after purchasing an additional 554 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Price Performance

Shares of NASDAQ:DLTR opened at $74.96 on Friday. The company has a market cap of $16.12 billion, a P/E ratio of -15.71, a P/E/G ratio of 2.14 and a beta of 0.89. The business has a fifty day simple moving average of $73.14 and a 200-day simple moving average of $73.79. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $151.21. The company has a quick ratio of 0.17, a current ratio of 1.03 and a debt-to-equity ratio of 0.32.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. Equities research analysts forecast that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Truist Financial raised their price target on Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Citigroup increased their target price on shares of Dollar Tree from $64.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Evercore ISI decreased their target price on Dollar Tree from $94.00 to $92.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 3rd. Piper Sandler restated a “neutral” rating and issued a $72.00 price target (up previously from $67.00) on shares of Dollar Tree in a research report on Thursday, December 5th. Finally, Guggenheim decreased their price objective on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, December 6th. Seventeen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.58.

Dollar Tree Company 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.