Douglas Lane & Associates LLC bought a new position in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 120,686 shares of the company’s stock, valued at approximately $13,761,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in shares of Dollar Tree during the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Dollar Tree by 59.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 259 shares of the company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. EFG International AG bought a new stake in shares of Dollar Tree during the second quarter worth about $30,000. Wilkerson Advisory Group LLC lifted its holdings in shares of Dollar Tree by 80.1% in the first quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock valued at $29,000 after purchasing an additional 117 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in Dollar Tree during the 2nd quarter worth $33,000. 97.40% of the stock is currently owned by institutional investors.
Dollar Tree Price Performance
Shares of DLTR traded down $0.60 during mid-day trading on Friday, reaching $118.02. 339,951 shares of the stock traded hands, compared to its average volume of 3,160,770. The company has a current ratio of 1.13, a quick ratio of 0.39 and a debt-to-equity ratio of 0.86. Dollar Tree, Inc. has a 1 year low of $85.88 and a 1 year high of $142.40. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.08 and a beta of 0.71. The firm has a fifty day moving average price of $123.37 and a 200 day moving average price of $114.27.
Dollar Tree declared that its board has initiated a share repurchase program on Thursday, July 2nd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. UBS Group increased their price target on Dollar Tree from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Wells Fargo & Company lifted their price objective on shares of Dollar Tree from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. BMO Capital Markets restated a “market perform” rating and set a $135.00 target price on shares of Dollar Tree in a research report on Friday, August 28th. Piper Sandler lifted their price target on Dollar Tree from $114.00 to $121.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. Finally, Evercore set a $135.00 price objective on Dollar Tree in a report on Tuesday, September 29th. Eleven research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $131.83.
Get Our Latest Stock Analysis on DLTR
Insider Buying and Selling
In other Dollar Tree news, insider Robert Aflatooni sold 2,500 shares of Dollar Tree stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $126.01, for a total transaction of $315,025.00. Following the completion of the sale, the insider directly owned 24,820 shares in the company, valued at $3,127,568.20. The trade was a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephanie Stahl sold 1,185 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $131.47, for a total transaction of $155,791.95. Following the completion of the transaction, the director directly owned 4,089 shares in the company, valued at $537,580.83. The trade was a 22.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 7.10% of the company’s stock.
Dollar Tree Profile
Dollar Tree, Inc operates discount variety stores under the Dollar Tree brand in the United States and Canada. Its stores offer a broad selection of everyday merchandise, including household supplies, food and beverages, health and personal-care products, seasonal items, toys, party supplies, and arts and crafts products.
The company’s Dollar Tree stores historically focused on merchandise priced at a fixed dollar point and have expanded to include multiple price points through initiatives such as Dollar Tree Plus.
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