Sumitomo Mitsui Trust Group Inc. Increases Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 484,797 shares of the company’s stock after buying an additional 4,397 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Dollar Tree worth $36,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DLTR. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Dollar Tree by 448.7% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,712 shares of the company’s stock valued at $120,000 after buying an additional 1,400 shares during the last quarter. Inspire Investing LLC increased its holdings in Dollar Tree by 62.6% during the third quarter. Inspire Investing LLC now owns 4,024 shares of the company’s stock valued at $283,000 after buying an additional 1,549 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Dollar Tree during the third quarter valued at approximately $218,000. Creative Planning increased its holdings in Dollar Tree by 8.6% during the third quarter. Creative Planning now owns 24,673 shares of the company’s stock valued at $1,646,000 after buying an additional 1,959 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in Dollar Tree by 82.4% during the third quarter. NBC Securities Inc. now owns 2,688 shares of the company’s stock valued at $189,000 after buying an additional 1,214 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DLTR has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 price target on shares of Dollar Tree in a research report on Friday, December 20th. Piper Sandler reiterated a “neutral” rating and issued a $72.00 price target (up from $67.00) on shares of Dollar Tree in a research report on Thursday, December 5th. BMO Capital Markets upped their price target on shares of Dollar Tree from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, December 5th. Jefferies Financial Group upped their price target on shares of Dollar Tree from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Truist Financial upped their price target on shares of Dollar Tree from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Seventeen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $85.58.

Dollar Tree Price Performance

DLTR stock opened at $72.24 on Wednesday. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $151.21. The company has a quick ratio of 0.17, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $72.88 and a two-hundred day simple moving average of $75.20. The firm has a market capitalization of $15.53 billion, a P/E ratio of -15.14, a price-to-earnings-growth ratio of 2.11 and a beta of 0.89.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Wednesday, December 4th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.07 by $0.05. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The business had revenue of $7.57 billion during the quarter, compared to analyst estimates of $7.45 billion. During the same quarter last year, the business earned $0.97 earnings per share. Dollar Tree’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Dollar Tree, Inc. will post 5.39 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.