OMERS ADMINISTRATION Corp boosted its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 38.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 25,290 shares of the company’s stock after buying an additional 7,000 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Dollar Tree were worth $2,770,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Dollar Tree during the fourth quarter worth approximately $25,000. Reflection Asset Management acquired a new position in shares of Dollar Tree in the fourth quarter valued at approximately $25,000. Covestor Ltd grew its position in shares of Dollar Tree by 60.9% in the fourth quarter. Covestor Ltd now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. Wilkerson Advisory Group LLC increased its stake in shares of Dollar Tree by 80.1% during the first quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock worth $29,000 after purchasing an additional 117 shares during the period. Finally, YANKCOM Partnership bought a new position in shares of Dollar Tree during the fourth quarter worth approximately $31,000. 97.40% of the stock is owned by institutional investors.
Dollar Tree Stock Up 1.0%
NASDAQ DLTR opened at $126.76 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.39 and a debt-to-equity ratio of 0.84. Dollar Tree, Inc. has a 1-year low of $84.71 and a 1-year high of $142.40. The company has a 50 day moving average of $115.48 and a 200-day moving average of $114.43. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.43 and a beta of 0.65.
Dollar Tree announced that its board has initiated a stock repurchase program on Thursday, July 2nd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Analyst Ratings Changes
Several analysts recently weighed in on DLTR shares. The Goldman Sachs Group cut Dollar Tree from a “neutral” rating to a “hold” rating in a report on Wednesday, July 8th. Piper Sandler lowered their price objective on Dollar Tree from $116.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Freedom Capital downgraded Dollar Tree from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Wall Street Zen raised Dollar Tree from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, UBS Group reissued a “buy” rating on shares of Dollar Tree in a research report on Friday, July 10th. Ten research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $122.68.
View Our Latest Research Report on DLTR
Dollar Tree Company Profile
Dollar Tree, Inc is a North American discount retailer that operates a portfolio of value-oriented store banners, primarily Dollar Tree and Family Dollar. The company’s stores offer a broad assortment of everyday items at low price points, including household essentials, food and snacks, health and beauty products, cleaning supplies, seasonal and party goods, home décor, and basic apparel. Dollar Tree’s merchandising strategy emphasizes high-turnover branded and private-label merchandise tailored to budget-conscious consumers, with Family Dollar complementing the chain by offering a wider range of price points and assortment depth in smaller-format neighborhood locations.
Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree has grown through both organic store openings and acquisitions.
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