Mackenzie Financial Corp Cuts Stock Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Mackenzie Financial Corp lessened its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,316 shares of the company’s stock after selling 2,300 shares during the quarter. Mackenzie Financial Corp’s holdings in Dollar Tree were worth $26,324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC increased its stake in Dollar Tree by 2.4% during the second quarter. SVB Wealth LLC now owns 2,657 shares of the company’s stock worth $414,000 after purchasing an additional 62 shares during the period. CIBC Private Wealth Group LLC increased its stake in Dollar Tree by 0.5% during the third quarter. CIBC Private Wealth Group LLC now owns 18,240 shares of the company’s stock worth $2,483,000 after purchasing an additional 82 shares during the period. Horrell Capital Management Inc. increased its stake in Dollar Tree by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the company’s stock worth $4,151,000 after purchasing an additional 94 shares during the period. Ethic Inc. increased its stake in Dollar Tree by 3.8% during the first quarter. Ethic Inc. now owns 2,554 shares of the company’s stock worth $409,000 after purchasing an additional 94 shares during the period. Finally, Independence Bank of Kentucky increased its stake in shares of Dollar Tree by 15.0% during the fourth quarter. Independence Bank of Kentucky now owns 759 shares of the company’s stock worth $108,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Dollar Tree from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. upped their target price on shares of Dollar Tree from $144.00 to $152.00 and gave the stock an “overweight” rating in a research note on Monday. Oppenheimer restated a “market perform” rating on shares of Dollar Tree in a research note on Monday, March 4th. Jefferies Financial Group cut their target price on shares of Dollar Tree from $130.00 to $128.00 in a research note on Thursday, March 14th. Finally, Gordon Haskett lowered shares of Dollar Tree from a “buy” rating to a “hold” rating and dropped their price target for the company from $150.00 to $140.00 in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Dollar Tree has a consensus rating of “Moderate Buy” and a consensus price target of $150.05.

Dollar Tree Price Performance

Shares of NASDAQ DLTR opened at $123.75 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.31 and a quick ratio of 0.22. The stock has a fifty day moving average price of $136.79 and a 200 day moving average price of $128.26. Dollar Tree, Inc. has a 1-year low of $102.77 and a 1-year high of $161.10. The company has a market cap of $26.98 billion, a PE ratio of -26.79, a P/E/G ratio of 1.18 and a beta of 0.90.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, March 13th. The company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.12). Dollar Tree had a positive return on equity of 15.11% and a negative net margin of 3.26%. The company had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same period in the prior year, the business earned $2.04 earnings per share. Dollar Tree’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Dollar Tree, Inc. will post 6.91 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel J. Heinrich purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average cost of $127.85 per share, with a total value of $127,850.00. Following the completion of the acquisition, the director now directly owns 6,225 shares in the company, valued at $795,866.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Dollar Tree news, Director Daniel J. Heinrich acquired 1,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average price of $127.85 per share, for a total transaction of $127,850.00. Following the completion of the transaction, the director now owns 6,225 shares of the company’s stock, valued at approximately $795,866.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey A. Davis acquired 1,800 shares of the business’s stock in a transaction on Monday, April 1st. The stock was acquired at an average price of $136.00 per share, with a total value of $244,800.00. Following the transaction, the chief financial officer now directly owns 19,047 shares of the company’s stock, valued at approximately $2,590,392. The disclosure for this purchase can be found here. Corporate insiders own 6.00% of the company’s stock.

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.