EdgePoint Investment Group Inc. Buys 35,862 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

EdgePoint Investment Group Inc. boosted its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 6,939,526 shares of the company’s stock after acquiring an additional 35,862 shares during the period. Dollar Tree accounts for about 3.8% of EdgePoint Investment Group Inc.’s holdings, making the stock its 12th biggest position. EdgePoint Investment Group Inc.’s holdings in Dollar Tree were worth $487,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLTR. Mather Group LLC. raised its position in shares of Dollar Tree by 198.9% in the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock valued at $30,000 after acquiring an additional 187 shares during the period. Blue Trust Inc. grew its holdings in shares of Dollar Tree by 174.5% in the 2nd quarter. Blue Trust Inc. now owns 431 shares of the company’s stock valued at $46,000 after buying an additional 274 shares during the period. Eastern Bank acquired a new position in shares of Dollar Tree in the 3rd quarter valued at $34,000. UMB Bank n.a. raised its stake in Dollar Tree by 52.0% during the 2nd quarter. UMB Bank n.a. now owns 535 shares of the company’s stock worth $57,000 after buying an additional 183 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in Dollar Tree by 105.6% during the third quarter. First Horizon Advisors Inc. now owns 553 shares of the company’s stock worth $39,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Trading Down 1.0 %

Shares of NASDAQ:DLTR opened at $71.87 on Friday. The company’s fifty day moving average price is $67.58 and its 200-day moving average price is $87.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $151.21.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, December 4th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.45 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Dollar Tree, Inc. will post 5.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Dollar Tree from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday. Sanford C. Bernstein initiated 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 for the company. Loop Capital lifted their price target on Dollar Tree from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday. Guggenheim reduced their price target on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group raised their price objective on Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday. Seventeen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $85.58.

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.