State of Michigan Retirement System Grows Position in Dollar Tree, Inc. $DLTR

State of Michigan Retirement System increased its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,969 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. State of Michigan Retirement System’s holdings in Dollar Tree were worth $5,642,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Tredje AP fonden grew its position in shares of Dollar Tree by 39.4% in the second quarter. Tredje AP fonden now owns 22,074 shares of the company’s stock valued at $2,186,000 after purchasing an additional 6,240 shares in the last quarter. Savoir Faire Capital Management L.P. lifted its holdings in shares of Dollar Tree by 60.3% in the second quarter. Savoir Faire Capital Management L.P. now owns 53,758 shares of the company’s stock worth $5,324,000 after buying an additional 20,218 shares in the last quarter. IFG Advisory LLC purchased a new stake in shares of Dollar Tree in the second quarter worth about $286,000. Simon Quick Advisors LLC purchased a new stake in shares of Dollar Tree in the second quarter worth about $588,000. Finally, Assetmark Inc. lifted its holdings in shares of Dollar Tree by 235.2% in the second quarter. Assetmark Inc. now owns 1,133 shares of the company’s stock worth $112,000 after buying an additional 795 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price target on shares of Dollar Tree from $112.00 to $108.00 and set a “neutral” rating on the stock in a report on Thursday, September 4th. Wolfe Research assumed coverage on shares of Dollar Tree in a report on Thursday, September 18th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group set a $133.00 price target on shares of Dollar Tree and gave the stock a “buy” rating in a report on Monday, October 20th. Morgan Stanley increased their price target on shares of Dollar Tree from $96.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Finally, Evercore ISI set a $100.00 target price on shares of Dollar Tree in a research note on Tuesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Dollar Tree currently has a consensus rating of “Hold” and an average price target of $110.00.

Insider Activity at Dollar Tree

In other Dollar Tree news, insider Robert Aflatooni sold 1,260 shares of Dollar Tree stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $94.70, for a total transaction of $119,322.00. Following the transaction, the insider directly owned 21,402 shares of the company’s stock, valued at approximately $2,026,769.40. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephanie Stahl sold 1,185 shares of Dollar Tree stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $100.32, for a total transaction of $118,879.20. Following the transaction, the director directly owned 4,089 shares in the company, valued at $410,208.48. This trade represents a 22.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 6.60% of the company’s stock.

Dollar Tree Price Performance

DLTR opened at $102.07 on Wednesday. The stock has a 50-day moving average price of $97.69 and a 200-day moving average price of $98.88. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $118.06. The company has a current ratio of 1.04, a quick ratio of 0.27 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $20.82 billion, a P/E ratio of -7.52, a PEG ratio of 1.75 and a beta of 0.85.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. Dollar Tree had a positive return on equity of 23.52% and a negative net margin of 13.46%.The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business earned $0.67 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Dollar Tree has set its FY 2025 guidance at 5.320-5.720 EPS. Equities analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree declared that its board has approved a stock repurchase program on Wednesday, July 9th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Dollar Tree Profile

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.