Commerce Bank Trims Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Commerce Bank lessened its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 15.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,082 shares of the company’s stock after selling 1,455 shares during the period. Commerce Bank’s holdings in Dollar Tree were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of DLTR. Kovitz Investment Group Partners LLC raised its holdings in shares of Dollar Tree by 382.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company’s stock worth $488,974,000 after acquiring an additional 5,173,238 shares during the period. Marshall Wace LLP increased its position in shares of Dollar Tree by 784.2% during the 4th quarter. Marshall Wace LLP now owns 4,377,366 shares of the company’s stock worth $328,040,000 after purchasing an additional 3,882,324 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of Dollar Tree by 2,489.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,621,456 shares of the company’s stock worth $196,452,000 after purchasing an additional 2,520,237 shares during the last quarter. Capital International Investors increased its position in shares of Dollar Tree by 30.1% during the 4th quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock worth $656,000,000 after purchasing an additional 2,023,819 shares during the last quarter. Finally, Corvex Management LP increased its position in shares of Dollar Tree by 155.2% during the 4th quarter. Corvex Management LP now owns 2,886,735 shares of the company’s stock worth $216,332,000 after purchasing an additional 1,755,761 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DLTR shares. Sanford C. Bernstein set a $82.00 price objective on Dollar Tree and gave the stock a “market perform” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. raised their price objective on Dollar Tree from $111.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. UBS Group raised their price objective on Dollar Tree from $95.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Cfra Research raised Dollar Tree to a “hold” rating in a research report on Wednesday, May 28th. Finally, Piper Sandler lifted their target price on Dollar Tree from $72.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.74.

Insiders Place Their Bets

In related news, CMO Richard L. Mcneely sold 21,026 shares of the business’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 transaction of $1,989,480.12. Following the completion of the sale, the chief marketing officer owned 50,419 shares in the company, valued at $4,770,645.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.60% of the stock is currently owned by insiders.

Dollar Tree Stock Performance

Shares of DLTR opened at $116.37 on Thursday. The stock has a 50-day simple moving average of $103.58 and a 200-day simple moving average of $85.26. 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 stock has a market capitalization of $24.29 billion, a PE ratio of -8.40, a PEG ratio of 2.48 and a beta of 0.88. Dollar Tree, Inc. has a 1 year low of $60.49 and a 1 year high of $117.80.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. On average, analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree announced that its board has authorized a stock repurchase program on Wednesday, July 9th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to reacquire up to 11.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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.