Covey Capital Advisors Lowers stake in Dollar Tree (DLTR)

Dollar Tree (DLTR) : Covey Capital Advisors reduced its stake in Dollar Tree by 0.65% during the most recent quarter end. The investment management company now holds a total of 152,434 shares of Dollar Tree which is valued at $14,676,346 after selling 1,000 shares in Dollar Tree , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Dollar Tree makes up approximately 7.66% of Covey Capital Advisors’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors boosted its stake in DLTR in the latest quarter, The investment management firm added 22,347 additional shares and now holds a total of 3,987,310 shares of Dollar Tree which is valued at $383,898,207. Dollar Tree makes up approx 0.08% of Blackrock Fund Advisors’s portfolio. Thompson Davis added DLTR to its portfolio by purchasing 3,233 company shares during the most recent quarter which is valued at $310,045. Dollar Tree makes up approx 0.47% of Thompson Davis’s portfolio. Reilly Financial Advisors added DLTR to its portfolio by purchasing 250 company shares during the most recent quarter which is valued at $24,193.Highstreet Asset Management boosted its stake in DLTR in the latest quarter, The investment management firm added 368 additional shares and now holds a total of 7,250 shares of Dollar Tree which is valued at $696,943. Dollar Tree makes up approx 0.24% of Highstreet Asset Management’s portfolio.

Dollar Tree closed down -0.29 points or -0.30% at $95.57 with 12,17,591 shares getting traded on Friday. Post opening the session at $95.82, the shares hit an intraday low of $95 and an intraday high of $96.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Dollar Tree reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.81. The company had revenue of $5085.80 million for the quarter, compared to analysts expectations of $5090.73 million. The company’s revenue was up 133.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.

Many Wall Street Analysts have commented on Dollar Tree. 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 .Company shares were Reiterated by RBC Capital Mkts on May 27, 2016 to “Top Pick”, Firm has raised the Price Target to $ 101 from a previous price target of $94 .

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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