Assenagon Asset Management S.A. Buys 489,074 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Assenagon Asset Management S.A. increased its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 238.7% in the third quarter, Holdings Channel reports. The firm owned 693,950 shares of the company’s stock after buying an additional 489,074 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Dollar Tree were worth $48,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of Dollar Tree in the 1st quarter valued at about $73,000. Indiana Trust & Investment Management CO increased its stake in Dollar Tree by 168.4% in the first quarter. Indiana Trust & Investment Management CO now owns 416 shares of the company’s stock valued at $55,000 after purchasing an additional 261 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in Dollar Tree in the first quarter worth $28,000. Norris Perne & French LLP MI boosted its position in shares of Dollar Tree by 1.9% during the first quarter. Norris Perne & French LLP MI now owns 135,676 shares of the company’s stock worth $18,065,000 after purchasing an additional 2,507 shares in the last quarter. Finally, Citizens Business Bank acquired a new position in shares of Dollar Tree in the 1st quarter valued at $2,791,000. Institutional investors own 97.40% of the company’s stock.

Insider Buying and Selling

In other Dollar Tree news, Director Daniel J. Heinrich acquired 2,200 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $68.27 per share, for a total transaction of $150,194.00. Following the completion of the purchase, the director now directly owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DLTR has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Dollar Tree from $145.00 to $90.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Truist Financial decreased their price objective on Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Telsey Advisory Group lowered their target price on Dollar Tree from $120.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Guggenheim cut their price target on shares of Dollar Tree from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Finally, UBS Group lowered their price objective on shares of Dollar Tree from $155.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $88.53.

Dollar Tree Stock Up 1.2 %

NASDAQ:DLTR opened at $66.95 on Friday. Dollar Tree, Inc. has a twelve month low of $60.81 and a twelve month high of $151.21. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of -14.59, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a quick ratio of 0.17, a current ratio of 1.02 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $76.21 and its two-hundred day moving average price is $99.21.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a positive return on equity of 15.77% and a negative net margin of 3.44%. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same period last year, the company posted $0.91 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Equities research analysts expect that Dollar Tree, Inc. will post 5.33 earnings per share for the current fiscal year.

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.