Empire Life Investments Inc. Sells 58,657 Shares of Dollar Tree, Inc. $DLTR

Empire Life Investments Inc. trimmed its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 28.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 149,493 shares of the company’s stock after selling 58,657 shares during the period. Empire Life Investments Inc.’s holdings in Dollar Tree were worth $18,389,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. YANKCOM Partnership acquired a new stake in Dollar Tree in the fourth quarter valued at $31,000. Root Financial Partners LLC acquired a new position in shares of Dollar Tree during the 3rd quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Dollar Tree in the 4th quarter valued at $39,000. FNY Investment Advisers LLC acquired a new stake in Dollar Tree during the 3rd quarter valued at $37,000. Finally, Smartleaf Asset Management LLC boosted its position in Dollar Tree by 90.5% during the third quarter. Smartleaf Asset Management LLC now owns 423 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

DLTR has been the subject of several research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $116.00 target price (up from $114.00) on shares of Dollar Tree in a report on Tuesday, March 17th. Barclays restated an “overweight” rating on shares of Dollar Tree in a report on Monday, March 16th. Bank of America upped their target price on Dollar Tree from $85.00 to $89.00 and gave the company an “underperform” rating in a research report on Monday, March 16th. Truist Financial lowered their target price on Dollar Tree from $156.00 to $142.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $150.00 price target on shares of Dollar Tree in a report on Tuesday, March 17th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.33.

Dollar Tree Stock Down 1.1%

Shares of DLTR opened at $89.05 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.29 and a debt-to-equity ratio of 0.65. Dollar Tree, Inc. has a 12 month low of $84.71 and a 12 month high of $142.40. The firm’s 50 day moving average is $105.54 and its 200-day moving average is $114.63. The stock has a market capitalization of $17.34 billion, a PE ratio of 14.25, a P/E/G ratio of 1.13 and a beta of 0.61.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Monday, March 16th. The company reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.03. Dollar Tree had a return on equity of 32.24% and a net margin of 6.61%.The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Dollar Tree, Inc. will post 6.75 EPS for the current year.

Dollar Tree Company Profile

Dollar Tree, Inc is a North American discount retailer that operates a portfolio of value-oriented store banners, primarily Dollar Tree and Family Dollar. The company’s stores offer a broad assortment of everyday items at low price points, including household essentials, food and snacks, health and beauty products, cleaning supplies, seasonal and party goods, home décor, and basic apparel. Dollar Tree’s merchandising strategy emphasizes high-turnover branded and private-label merchandise tailored to budget-conscious consumers, with Family Dollar complementing the chain by offering a wider range of price points and assortment depth in smaller-format neighborhood locations.

Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree has grown through both organic store openings and acquisitions.