Dollar Tree, Inc. (NASDAQ:DLTR) Shares Sold by Allworth Financial LP

Allworth Financial LP lowered its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 70.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 464 shares of the company’s stock after selling 1,100 shares during the period. Allworth Financial LP’s holdings in Dollar Tree were worth $38,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Private Trust Co. NA increased its position in shares of Dollar Tree by 11.6% in the 1st quarter. Private Trust Co. NA now owns 1,527 shares of the company’s stock valued at $115,000 after purchasing an additional 159 shares during the last quarter. Amalgamated Bank raised its position in Dollar Tree by 0.7% in the 1st quarter. Amalgamated Bank now owns 39,283 shares of the company’s stock valued at $2,949,000 after purchasing an additional 265 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Dollar Tree by 6.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,656 shares of the company’s stock worth $349,000 after buying an additional 292 shares during the period. Wahed Invest LLC increased its holdings in shares of Dollar Tree by 6.1% in the fourth quarter. Wahed Invest LLC now owns 5,205 shares of the company’s stock valued at $390,000 after purchasing an additional 297 shares during the period. Finally, Kera Capital Partners Inc. increased its stake in Dollar Tree by 10.5% in the 1st quarter. Kera Capital Partners Inc. now owns 3,352 shares of the company’s stock valued at $252,000 after buying an additional 318 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insider Buying and Selling at Dollar Tree

In related news, CMO Richard L. Mcneely sold 21,026 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $94.62, for a total value of $1,989,480.12. Following the sale, the chief marketing officer owned 50,419 shares of the company’s stock, valued at approximately $4,770,645.78. This trade represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DLTR has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Dollar Tree from $72.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Evercore ISI boosted their target price on shares of Dollar Tree from $92.00 to $94.00 and gave the company an “in-line” rating in a research note on Tuesday, June 24th. Bank of America decreased their price objective on Dollar Tree from $75.00 to $70.00 and set an “underperform” rating on the stock in a report on Tuesday, April 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $95.00 price target on shares of Dollar Tree in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised shares of Dollar Tree from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $111.00 in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $92.00.

Dollar Tree Stock Performance

Shares of DLTR stock opened at $110.12 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. The company’s 50-day simple moving average is $96.67 and its 200-day simple moving average is $81.51. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $111.03. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of -7.95, a PEG ratio of 2.32 and a beta of 0.86.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.05. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.52 billion. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Equities analysts anticipate 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 permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to reacquire up to 11.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are 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.