Alkeon Capital Management Lowers stake in Dollar Tree (DLTR)

Dollar Tree (DLTR) : Alkeon Capital Management reduced its stake in Dollar Tree by 0.39% during the most recent quarter end. The investment management company now holds a total of 2,696,301 shares of Dollar Tree which is valued at $259,599,860 after selling 10,500 shares in Dollar Tree , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Dollar Tree makes up approximately 4.92% of Alkeon Capital Management’s portfolio.

Other Hedge Funds, Including , Keeley Asset Management Corp sold out all of its stake in DLTR during the most recent quarter. The investment firm sold 6,510 shares of DLTR which is valued $626,783.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in DLTR in the latest quarter, The investment management firm added 1,437 additional shares and now holds a total of 18,861 shares of Dollar Tree which is valued at $1,815,937. Dollar Tree makes up approx 0.03% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio.Global X Management Co boosted its stake in DLTR in the latest quarter, The investment management firm added 779 additional shares and now holds a total of 1,423 shares of Dollar Tree which is valued at $138,558. Dollar Tree makes up approx 0.01% of Global X Management Co’s portfolio.Herndon Capital Management reduced its stake in DLTR by selling 7,671 shares or 40.79% in the most recent quarter. The Hedge Fund company now holds 11,136 shares of DLTR which is valued at $1,072,285. Dollar Tree makes up approx 0.04% of Herndon Capital Management’s portfolio.

Dollar Tree opened for trading at $82.39 and hit $83.75 on the upside on Thursday, eventually ending the session at $83.18, with a gain of 0.58% or 0.48 points. The heightened volatility saw the trading volume jump to 29,38,633 shares. Company has a market cap of $19,603 M.

On the company’s financial health, Dollar Tree reported $0.72 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 25, 2016. Analyst had a consensus of $0.73. The company had revenue of $5000.00 million for the quarter, compared to analysts expectations of $5082.09 million. The company’s revenue was up 66.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Dollar Tree. Dollar Tree was Resumed by Goldman to “Buy” on Sep 6, 2016. Company shares were Upgraded by Deutsche Bank on Aug 1, 2016 to ” Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $82 .Company shares were Reiterated by Telsey Advisory Group on May 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 102 from a previous price target of $95 .

Dollar Tree Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price of $ 1.00. The Company offers a selection of everyday basic products and also supplements these basic everyday items with seasonal closeout and promotional merchandise. As of July 06 2015 the Company operated more than 13600 stores across 48 states and five Canadian provinces. Its stores operate under the brands of Dollar Tree Dollar Tree Canada Deals and Family Dollar. Dollar Tree’s consumable merchandise includes candy and food health and beauty care and everyday consumables such as paper and chemicals and in select stores frozen and refrigerated food. The Company’s variety merchandise includes toys durable housewares gifts party goods greeting cards softlines and other items. Its seasonal goods include Valentine’s Day Easter Halloween and Christmas merchandise.

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