Bedell Frazier Investment Counselling LLC Sells 6,278 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Bedell Frazier Investment Counselling LLC reduced its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,918 shares of the company's stock after selling 6,278 shares during the period. Bedell Frazier Investment Counselling LLC's holdings in Dollar Tree were worth $593,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in Dollar Tree by 6,210.0% during the fourth quarter. Meeder Asset Management Inc. now owns 3,155 shares of the company's stock worth $236,000 after acquiring an additional 3,105 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Dollar Tree by 155.7% during the fourth quarter. Wellington Management Group LLP now owns 77,886 shares of the company's stock valued at $5,837,000 after acquiring an additional 47,427 shares in the last quarter. Inkwell Capital LLC bought a new stake in shares of Dollar Tree during the fourth quarter valued at approximately $1,968,000. Allstate Corp acquired a new stake in Dollar Tree in the 4th quarter valued at $452,000. Finally, Pictet Asset Management Holding SA raised its holdings in Dollar Tree by 7.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 108,716 shares of the company's stock worth $8,147,000 after buying an additional 7,832 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on DLTR. Evercore ISI lifted their price objective on shares of Dollar Tree from $79.00 to $85.00 and gave the stock an "in-line" rating in a report on Thursday, March 27th. Loop Capital reaffirmed a "hold" rating on shares of Dollar Tree in a research report on Thursday, March 27th. BMO Capital Markets lifted their target price 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. Piper Sandler reissued a "neutral" rating and set a $72.00 target price (up from $67.00) on shares of Dollar Tree in a research report on Thursday, December 5th. Finally, StockNews.com upgraded Dollar Tree from a "sell" rating to a "hold" rating in a research note on Thursday, December 5th. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $81.00.

Remove Ads

Dollar Tree Stock Up 3.3 %

Shares of DLTR traded up $2.25 during trading hours on Friday, hitting $69.47. The company had a trading volume of 6,473,631 shares, compared to its average volume of 4,061,906. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $131.52. The firm has a fifty day moving average price of $71.29 and a 200-day moving average price of $70.39. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of -14.55, a P/E/G ratio of 2.16 and a beta of 0.87. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its earnings results on Wednesday, March 26th. The company reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the company posted $2.55 EPS. Dollar Tree's revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William W. Douglas III bought 701 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was purchased at an average price of $75.00 per share, for a total transaction of $52,575.00. Following the completion of the transaction, the director now owns 1,377 shares in the company, valued at $103,275. The trade was a 103.70 % 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 currently owned by insiders.

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.