Independence Bank of Kentucky Trims Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

Independence Bank of Kentucky trimmed its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 53.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,130 shares of the company’s stock after selling 2,435 shares during the quarter. Independence Bank of Kentucky’s holdings in Dollar Tree were worth $160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Dollar Tree by 74.1% in the fourth quarter. Assetmark Inc. now owns 350 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Bessemer Group Inc. boosted its position in shares of Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 346 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Dollar Tree by 120.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 424 shares of the company’s stock worth $32,000 after buying an additional 232 shares during the last quarter. Hurley Capital LLC bought a new position in Dollar Tree during the 4th quarter valued at approximately $33,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Dollar Tree during the fourth quarter valued at $43,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Dollar Tree Price Performance

NASDAQ DLTR opened at $94.50 on Friday. The stock has a market capitalization of $20.33 billion, a price-to-earnings ratio of -19.81, a PEG ratio of 2.16 and a beta of 0.84. Dollar Tree, Inc. has a 1-year low of $60.49 and a 1-year high of $111.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The business’s fifty day moving average price is $82.48 and its 200-day moving average price is $75.42.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The company had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. Dollar Tree’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

Insider Activity

In related news, CAO Aditya Maheshwari sold 1,238 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $74.70, for a total value of $92,478.60. Following the transaction, the chief accounting officer now directly owns 4,231 shares of the company’s stock, valued at approximately $316,055.70. This trade represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William W. Douglas III bought 701 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were bought at an average price of $75.00 per share, for a total transaction of $52,575.00. Following the completion of the transaction, the director now directly owns 1,377 shares of the company’s stock, valued at $103,275. This represents a 103.70% increase in their position. The disclosure for this purchase can be found here. Insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DLTR shares. UBS Group increased their target price on Dollar Tree from $95.00 to $108.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Dollar Tree in a research report on Thursday. BMO Capital Markets raised their price objective on shares of Dollar Tree from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Thursday. Truist Financial upped their target price on shares of Dollar Tree from $89.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, June 2nd. Finally, Cfra Research upgraded shares of Dollar Tree to a “hold” rating in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.26.

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.