Pacer Advisors Inc. boosted its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 12.4% during the first quarter, Holdings Channel.com reports. The firm owned 858,591 shares of the company’s stock after buying an additional 94,647 shares during the period. Pacer Advisors Inc.’s holdings in Dollar Tree were worth $94,024,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in shares of Dollar Tree by 3,237.4% in the first quarter. NewEdge Advisors LLC now owns 13,750 shares of the company’s stock worth $1,032,000 after buying an additional 13,338 shares during the period. Woodline Partners LP boosted its position in Dollar Tree by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,078 shares of the company’s stock valued at $1,282,000 after buying an additional 4,941 shares during the period. Focus Partners Wealth boosted its position in Dollar Tree by 2.0% during the 1st quarter. Focus Partners Wealth now owns 10,646 shares of the company’s stock valued at $799,000 after buying an additional 213 shares during the period. Sivia Capital Partners LLC bought a new stake in Dollar Tree in the 2nd quarter worth $257,000. Finally, CW Advisors LLC bought a new stake in Dollar Tree in the 2nd quarter worth $264,000. Institutional investors own 97.40% of the company’s stock.
Dollar Tree Price Performance
Shares of NASDAQ DLTR opened at $127.21 on Monday. The firm has a fifty day simple moving average of $117.49 and a two-hundred day simple moving average of $114.31. Dollar Tree, Inc. has a 12 month low of $84.71 and a 12 month high of $142.40. The company has a current ratio of 1.16, a quick ratio of 0.39 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $24.45 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.45 and a beta of 0.65.
Dollar Tree declared that its board has authorized a share repurchase program on Thursday, July 2nd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently commented on DLTR. Gordon Haskett raised shares of Dollar Tree from a “reduce” rating to a “hold” rating and set a $115.00 price objective for the company in a research note on Thursday, June 4th. Evercore raised Dollar Tree from a “hold” rating to an “outperform” rating in a research note on Wednesday, July 8th. Bank of America restated an “underperform” rating on shares of Dollar Tree in a report on Thursday, May 28th. Weiss Ratings raised Dollar Tree from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. Finally, Piper Sandler dropped their price objective on Dollar Tree from $116.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Dollar Tree has an average rating of “Hold” and an average price target of $122.82.
Get Our Latest Stock Report on Dollar Tree
About Dollar Tree
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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