Westpac Banking Corp Purchases 7,758 Shares of Dollar Tree, Inc. (DLTR)
Westpac Banking Corp increased its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 13.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,327 shares of the company’s stock after acquiring an additional 7,758 shares during the quarter. Westpac Banking Corp’s holdings in Dollar Tree were worth $7,225,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in DLTR. Vanguard Group Inc. increased its position in Dollar Tree by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,359,098 shares of the company’s stock valued at $1,563,349,000 after purchasing an additional 691,393 shares during the period. FMR LLC increased its position in Dollar Tree by 49.4% during the 2nd quarter. FMR LLC now owns 17,309,462 shares of the company’s stock valued at $1,210,277,000 after purchasing an additional 5,724,495 shares during the period. Macquarie Group Ltd. increased its position in Dollar Tree by 184,411.9% during the 3rd quarter. Macquarie Group Ltd. now owns 8,303,037 shares of the company’s stock valued at $720,869,000 after purchasing an additional 8,298,537 shares during the period. Maverick Capital Ltd. increased its position in Dollar Tree by 86.7% during the 2nd quarter. Maverick Capital Ltd. now owns 8,135,605 shares of the company’s stock valued at $568,842,000 after purchasing an additional 3,777,579 shares during the period. Finally, Voya Investment Management LLC increased its position in Dollar Tree by 20.4% during the 2nd quarter. Voya Investment Management LLC now owns 3,470,719 shares of the company’s stock valued at $242,673,000 after purchasing an additional 587,409 shares during the period. 89.74% of the stock is owned by institutional investors.
In related news, Chairman Macon F. Brock, Jr. sold 150,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $91.13, for a total value of $13,669,500.00. Following the transaction, the chairman now directly owns 1,128,795 shares in the company, valued at approximately $102,867,088.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas A. Saunders sold 33,750 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $106.34, for a total value of $3,588,975.00. Following the completion of the transaction, the director now owns 2,332,294 shares in the company, valued at $248,016,143.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,132 shares of company stock worth $28,348,680. 4.10% of the stock is owned by company insiders.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.28 billion. Dollar Tree had a net margin of 4.63% and a return on equity of 18.04%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. research analysts expect that Dollar Tree, Inc. will post 4.87 earnings per share for the current year.
A number of research firms have weighed in on DLTR. Wells Fargo & Co reissued an “outperform” rating and set a $132.00 target price (up previously from $122.00) on shares of Dollar Tree in a research report on Tuesday. Zacks Investment Research raised shares of Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $128.00 target price for the company in a research report on Tuesday. Oppenheimer began coverage on shares of Dollar Tree in a research report on Tuesday. They set an “outperform” rating and a $130.00 target price for the company. Guggenheim began coverage on shares of Dollar Tree in a research report on Wednesday, January 10th. They set a “buy” rating and a $125.00 target price for the company. Finally, Raymond James Financial set a $124.00 target price on shares of Dollar Tree and gave the company a “buy” rating in a research report on Thursday, December 7th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $105.04.
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Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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