Envestnet Asset Management Inc. Reduces Stock Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Envestnet Asset Management Inc. trimmed its stake in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 52.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 260,581 shares of the company's stock after selling 289,413 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Dollar Tree worth $19,528,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Dollar Tree by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 23,450,228 shares of the company's stock valued at $1,757,360,000 after purchasing an additional 163,368 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Dollar Tree by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 5,109,852 shares of the company's stock worth $381,964,000 after buying an additional 222,352 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Dollar Tree by 31.3% during the fourth quarter. Primecap Management Co. CA now owns 3,978,425 shares of the company's stock valued at $298,143,000 after acquiring an additional 947,580 shares in the last quarter. Norges Bank purchased a new position in Dollar Tree in the 4th quarter worth approximately $171,149,000. Finally, Madison Investment Advisors LLC purchased a new stake in Dollar Tree during the 4th quarter valued at $113,315,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Evercore ISI lifted their target price on shares of Dollar Tree from $79.00 to $85.00 and gave the stock an "in-line" rating in a research report on Thursday, March 27th. Wells Fargo & Company increased their target price on shares of Dollar Tree from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st. Truist Financial set a $84.00 price target on shares of Dollar Tree in a report on Thursday, March 27th. Bank of America dropped their price objective on Dollar Tree from $75.00 to $70.00 and set an "underperform" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup raised shares of Dollar Tree from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $76.00 to $103.00 in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Dollar Tree presently has an average rating of "Hold" and an average target price of $81.84.

Dollar Tree Stock Performance

Shares of NASDAQ:DLTR traded up $5.93 during trading on Friday, reaching $79.14. The company had a trading volume of 7,221,420 shares, compared to its average volume of 3,923,640. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The stock's fifty day moving average price is $70.91 and its 200 day moving average price is $70.39. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $124.81. The firm has a market capitalization of $17.02 billion, a price-to-earnings ratio of -16.59, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.11 earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($0.09). The business had revenue of $5 billion during the quarter, compared to analysts' expectations of $8.23 billion. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. Dollar Tree's revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.55 EPS. As a group, equities research analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Insider Activity at Dollar Tree

In related news, CAO Aditya Maheshwari sold 1,238 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $74.70, for a total transaction of $92,478.60. Following the sale, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $316,055.70. This trade represents a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William W. Douglas III bought 701 shares of Dollar Tree stock in a transaction that occurred on Wednesday, April 2nd. The shares were acquired 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 directly owns 1,377 shares of the company's stock, valued at $103,275. This trade represents a 103.70 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.80% of the company's stock.

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.