Concentric Capital Strategies LP Purchases Shares of 28,864 Dollar Tree, Inc. $DLTR

Concentric Capital Strategies LP purchased a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 28,864 shares of the company’s stock, valued at approximately $2,167,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Corvex Management LP grew its position in Dollar Tree by 11.2% during the first quarter. Corvex Management LP now owns 3,210,753 shares of the company’s stock valued at $241,031,000 after acquiring an additional 324,018 shares during the last quarter. Alliancebernstein L.P. grew its position in Dollar Tree by 155.1% during the first quarter. Alliancebernstein L.P. now owns 1,353,050 shares of the company’s stock valued at $101,573,000 after acquiring an additional 822,694 shares during the last quarter. AQR Capital Management LLC grew its position in Dollar Tree by 96.1% during the first quarter. AQR Capital Management LLC now owns 126,714 shares of the company’s stock valued at $9,367,000 after acquiring an additional 62,097 shares during the last quarter. Alyeska Investment Group L.P. grew its position in Dollar Tree by 1,055.1% during the first quarter. Alyeska Investment Group L.P. now owns 2,322,189 shares of the company’s stock valued at $174,327,000 after acquiring an additional 2,121,149 shares during the last quarter. Finally, Amundi grew its position in Dollar Tree by 29.6% during the first quarter. Amundi now owns 1,408,854 shares of the company’s stock valued at $105,763,000 after acquiring an additional 321,951 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DLTR shares. Telsey Advisory Group upgraded shares of Dollar Tree from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $130.00 in a report on Friday, August 29th. Barclays upgraded shares of Dollar Tree from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $95.00 to $138.00 in a report on Monday, July 21st. Cfra Research upgraded shares of Dollar Tree to a “hold” rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Dollar Tree from $111.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Jefferies Financial Group started coverage on shares of Dollar Tree in a report on Thursday, July 17th. They issued a “hold” rating and a $106.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.15.

Insiders Place Their Bets

In related news, CMO Richard L. Mcneely sold 21,026 shares of Dollar Tree stock in a transaction on Friday, June 6th. The shares were 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 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 legal filing with the SEC, which is available at this link. 6.60% of the stock is currently owned by company insiders.

Dollar Tree Stock Performance

NASDAQ:DLTR opened at $102.03 on Thursday. The stock has a market cap of $21.29 billion, a P/E ratio of -7.36, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. The firm’s fifty day simple moving average is $110.35 and its 200 day simple moving average is $90.69. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $118.06. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.39. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. Dollar Tree has set its FY 2025 guidance at 5.320-5.720 EPS. As a group, research analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Dollar Tree announced that its board has authorized a stock repurchase plan on Wednesday, July 9th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 11.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.