Dollar Tree, Inc. (NASDAQ:DLTR) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. grew its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 5,400.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 742,876 shares of the company’s stock after purchasing an additional 729,371 shares during the quarter. Federated Hermes Inc. owned approximately 0.35% of Dollar Tree worth $55,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew 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 valued at $26,000 after buying an additional 346 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of Dollar Tree in the 4th quarter valued at $33,000. CX Institutional purchased a new position in shares of Dollar Tree in the 1st quarter valued at $43,000. Sentry Investment Management LLC purchased a new position in Dollar Tree during the 1st quarter worth $48,000. Finally, GeoWealth Management LLC purchased a new position in Dollar Tree during the 4th quarter worth $61,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Sanford C. Bernstein set a $82.00 price objective on shares of Dollar Tree and gave the stock a “market perform” rating in a research report on Monday, May 5th. Morgan Stanley lifted their target price on shares of Dollar Tree from $80.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, June 5th. Cfra Research upgraded shares of Dollar Tree to a “hold” rating in a research note on Wednesday, May 28th. The Goldman Sachs Group cut shares of Dollar Tree from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, June 5th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $95.00 target price on shares of Dollar Tree in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $97.74.

Dollar Tree Stock Down 0.7%

Shares of NASDAQ:DLTR opened at $114.15 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. Dollar Tree, Inc. has a 1-year low of $60.49 and a 1-year high of $115.99. The company’s fifty day moving average is $100.98 and its two-hundred day moving average is $83.73. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of -8.24, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the company earned $1.43 EPS. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Dollar Tree declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 9th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Dollar Tree

In related news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction dated 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 completion of the transaction, the chief marketing officer owned 50,419 shares in the company, valued at $4,770,645.78. This represents a 29.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 6.60% of the stock is owned by corporate insiders.

Dollar Tree Company 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.