Norges Bank Makes New Investment in Dollar Tree, Inc. (NASDAQ:DLTR)

Norges Bank acquired a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,283,808 shares of the company's stock, valued at approximately $171,149,000. Norges Bank owned approximately 1.06% of Dollar Tree at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Madison Investment Advisors LLC bought a new stake in Dollar Tree in the 4th quarter worth about $113,315,000. Primecap Management Co. CA increased its holdings in Dollar Tree by 31.3% during the fourth quarter. Primecap Management Co. CA now owns 3,978,425 shares of the company's stock worth $298,143,000 after buying an additional 947,580 shares during the last quarter. State Street Corp boosted its stake in Dollar Tree by 6.8% in the third quarter. State Street Corp now owns 9,427,910 shares of the company's stock valued at $662,971,000 after acquiring an additional 596,191 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Dollar Tree by 45.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,351,632 shares of the company's stock valued at $95,994,000 after acquiring an additional 425,245 shares during the period. Finally, Natixis Advisors LLC increased its stake in shares of Dollar Tree by 111.0% during the 4th quarter. Natixis Advisors LLC now owns 650,493 shares of the company's stock worth $48,748,000 after purchasing an additional 342,196 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Dollar Tree Price Performance

NASDAQ DLTR traded up $2.48 during mid-day trading on Friday, hitting $69.70. The stock had a trading volume of 4,034,416 shares, compared to its average volume of 3,718,803. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $135.94. 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 firm's 50 day moving average is $71.29 and its 200 day moving average is $70.39. The stock has a market capitalization of $14.99 billion, a price-to-earnings ratio of -14.58, a PEG ratio of 2.16 and a beta of 0.87.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DLTR shares. Wells Fargo & Company increased their price objective on Dollar Tree from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday. UBS Group lowered their price objective on Dollar Tree from $105.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Loop Capital restated a "hold" rating on shares of Dollar Tree in a research note on Thursday, March 27th. Guggenheim decreased their price objective on Dollar Tree from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Citigroup raised their target price on shares of Dollar Tree from $64.00 to $76.00 and gave the stock a "neutral" rating in a report on Thursday, December 5th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Dollar Tree currently has a consensus rating of "Hold" and an average price target of $81.00.

Insider Activity at Dollar Tree

In other news, Director William W. Douglas III acquired 701 shares of Dollar Tree stock in a transaction on Wednesday, April 2nd. The stock was bought at an average price of $75.00 per share, for a total transaction of $52,575.00. Following the completion of the purchase, the director now owns 1,377 shares in the company, valued at $103,275. This represents a 103.70 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by company 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.