Oppenheimer Asset Management Inc. Buys 3,077 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Oppenheimer Asset Management Inc. grew its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,928 shares of the company’s stock after acquiring an additional 3,077 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Dollar Tree were worth $6,535,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. grew its position in Dollar Tree by 4.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,410 shares of the company’s stock valued at $720,000 after purchasing an additional 239 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Dollar Tree by 31.1% during the first quarter. Empowered Funds LLC now owns 2,750 shares of the company’s stock valued at $366,000 after buying an additional 653 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Dollar Tree by 165.6% during the first quarter. Russell Investments Group Ltd. now owns 157,400 shares of the company’s stock valued at $20,950,000 after buying an additional 98,134 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Dollar Tree by 13.8% during the first quarter. Bleakley Financial Group LLC now owns 2,781 shares of the company’s stock valued at $370,000 after acquiring an additional 337 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Dollar Tree by 15.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 249,721 shares of the company’s stock worth $33,250,000 after acquiring an additional 32,833 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Dollar Tree

In related news, Director Daniel J. Heinrich bought 2,200 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $68.27 per share, for a total transaction of $150,194.00. Following the completion of the transaction, the director now owns 9,823 shares in the company, valued at $670,616.21. The trade was a 28.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DLTR has been the subject of a number of research analyst reports. BMO Capital Markets lowered Dollar Tree from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $130.00 to $68.00 in a report on Thursday, September 5th. Redburn Atlantic upgraded Dollar Tree to a “hold” rating in a report on Monday, September 23rd. Telsey Advisory Group cut shares of Dollar Tree from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $95.00 to $75.00 in a research note on Tuesday, November 5th. Melius Research initiated coverage on shares of Dollar Tree in a research note on Monday, September 23rd. They issued a “hold” rating and a $70.00 price target for the company. Finally, Sanford C. Bernstein assumed coverage on shares of Dollar Tree in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $76.00 price objective on the stock. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dollar Tree currently has a consensus rating of “Hold” and a consensus price target of $88.11.

Dollar Tree Price Performance

NASDAQ DLTR opened at $65.67 on Friday. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of -13.46, a PEG ratio of 2.63 and a beta of 0.87. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $151.21. The company’s 50 day moving average is $68.05 and its two-hundred day moving average is $92.93. The company has a current ratio of 1.02, a quick ratio of 0.17 and a debt-to-equity ratio of 0.33.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. As a group, research analysts anticipate that Dollar Tree, Inc. will post 5.34 earnings per share for the current year.

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.