Envestnet Asset Management Inc. Sells 34,312 Shares of Dollar Tree, Inc. (DLTR)

Envestnet Asset Management Inc. decreased its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 15.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 188,126 shares of the company’s stock after selling 34,312 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Dollar Tree were worth $19,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of DLTR. Oregon Public Employees Retirement Fund grew its position in shares of Dollar Tree by 8,821.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,327,908 shares of the company’s stock worth $26,000 after buying an additional 2,301,814 shares in the last quarter. Executive Wealth Management LLC bought a new position in shares of Dollar Tree during the 4th quarter worth $26,000. Capital Investment Advisory Services LLC bought a new position in shares of Dollar Tree during the 4th quarter worth $31,000. Riverview Trust Co bought a new position in shares of Dollar Tree during the 4th quarter worth $32,000. Finally, Parkside Financial Bank & Trust grew its position in shares of Dollar Tree by 47.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 302 shares of the company’s stock worth $32,000 after buying an additional 97 shares in the last quarter. 94.20% of the stock is currently owned by institutional investors and hedge funds.

In other Dollar Tree news, Director Arnold S. Barron sold 11,667 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $101.61, for a total value of $1,185,483.87. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $1,524,150. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gary M. Philbin sold 9,614 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $110.00, for a total value of $1,057,540.00. Following the completion of the sale, the chief executive officer now directly owns 84,665 shares of the company’s stock, valued at approximately $9,313,150. The disclosure for this sale can be found here. In the last three months, insiders sold 47,193 shares of company stock valued at $4,906,908. Corporate insiders own 1.50% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Dollar Tree from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Tuesday, May 28th. BidaskClub downgraded Dollar Tree from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. TheStreet raised Dollar Tree from a “c” rating to a “b-” rating in a research report on Thursday, May 30th. Morgan Stanley dropped their price objective on Dollar Tree from $101.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets dropped their price objective on Dollar Tree from $105.00 to $102.00 and set a “market perform” rating on the stock in a research report on Friday, May 31st. Twelve investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Dollar Tree presently has an average rating of “Buy” and a consensus price target of $102.33.

Shares of NASDAQ DLTR opened at $100.69 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.07 and a quick ratio of 0.23. The stock has a market capitalization of $23.92 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.93 and a beta of 0.52. Dollar Tree, Inc. has a fifty-two week low of $78.78 and a fifty-two week high of $111.61.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Thursday, May 30th. The company reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. The business had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.78 billion. Dollar Tree had a positive return on equity of 19.13% and a negative net margin of 6.43%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $1.19 earnings per share. On average, equities analysts anticipate that Dollar Tree, Inc. will post 5.24 earnings per share for the current year.

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Dollar Tree Profile

Dollar Tree, Inc operates discount variety retail stores. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods that include Valentine's Day, Easter, Halloween, and Christmas merchandise.

Further Reading: What are catch-up contributions?

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Institutional Ownership by Quarter for Dollar Tree (NASDAQ:DLTR)

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