Cerity Partners LLC Reduces Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Cerity Partners LLC lowered its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 9.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 34,560 shares of the company’s stock after selling 3,688 shares during the quarter. Cerity Partners LLC’s holdings in Dollar Tree were worth $2,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. boosted its position in shares of Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 346 shares in the last quarter. Hurley Capital LLC bought a new stake in shares of Dollar Tree in the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Dollar Tree in the 4th quarter worth approximately $43,000. CX Institutional bought a new stake in shares of Dollar Tree in the 1st quarter worth approximately $43,000. Finally, Sentry Investment Management LLC bought a new stake in shares of Dollar Tree in the 1st quarter worth approximately $48,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Insider Buying and Selling

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the transaction, the chief marketing officer owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DLTR. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dollar Tree in a research report on Thursday, June 5th. Wells Fargo & Company set a $105.00 price objective on Dollar Tree and gave the company an “overweight” rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. raised Dollar Tree from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $72.00 to $111.00 in a research report on Thursday, June 5th. Evercore ISI upped their price objective on Dollar Tree from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Tuesday, June 24th. Finally, Truist Financial upped their price objective on Dollar Tree from $89.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Dollar Tree has a consensus rating of “Hold” and an average target price of $92.00.

Dollar Tree Trading Up 1.8%

DLTR opened at $110.12 on Friday. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of -7.95, a PEG ratio of 2.36 and a beta of 0.86. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $111.03. The stock has a fifty day moving average price of $96.67 and a 200-day moving average price of $81.56.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.05. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. Dollar Tree’s revenue was up 11.3% compared to the same quarter last year. As a group, equities research 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 authorized a share buyback program on Wednesday, July 9th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 11.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Dollar Tree

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.