ICICI Prudential Asset Management Co Ltd Boosts Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,805 shares of the company’s stock after acquiring an additional 409 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Dollar Tree were worth $197,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Strategic Financial Concepts LLC acquired a new position in shares of Dollar Tree in the 2nd quarter valued at approximately $26,000. Mather Group LLC. lifted its position in shares of Dollar Tree by 198.9% in the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock worth $30,000 after buying an additional 187 shares during the last quarter. Eastern Bank acquired a new position in shares of Dollar Tree in the 3rd quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Dollar Tree during the 2nd quarter valued at about $37,000. Finally, Blue Trust Inc. raised its stake in Dollar Tree by 174.5% during the second quarter. Blue Trust Inc. now owns 431 shares of the company’s stock worth $46,000 after acquiring an additional 274 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Dollar Tree Stock Performance

Shares of DLTR stock opened at $65.15 on Thursday. The firm has a market cap of $14.01 billion, a P/E ratio of -13.35, a PEG ratio of 2.63 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.17. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $151.21. The stock’s 50-day moving average is $68.02 and its two-hundred day moving average is $93.12.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.37). The business had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. Dollar Tree’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. Analysts predict that Dollar Tree, Inc. will post 5.34 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Daniel J. Heinrich bought 2,200 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $68.27 per share, with a total value of $150,194.00. Following the completion of the transaction, the director now directly owns 9,823 shares of the company’s stock, valued at $670,616.21. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DLTR has been the subject of several recent research reports. Loop Capital lowered Dollar Tree from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, September 5th. BMO Capital Markets lowered Dollar Tree from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $68.00 in a research report on Thursday, September 5th. Piper Sandler cut their target price on Dollar Tree from $112.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Redburn Atlantic raised shares of Dollar Tree to a “hold” rating in a report on Monday, September 23rd. Finally, Morgan Stanley decreased their target price on shares of Dollar Tree from $130.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, September 5th. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $88.11.

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.