West Family Investments Inc. bought a new stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) during the 2nd quarter, Holdings Channel.com reports. The firm bought 6,996 shares of the company’s stock, valued at approximately $846,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in DLTR. California State Teachers Retirement System lifted its position in shares of Dollar Tree by 13,223.3% in the 2nd quarter. California State Teachers Retirement System now owns 34,952,131 shares of the company’s stock worth $4,227,460,000 after purchasing an additional 34,689,793 shares during the period. BlackRock Inc. acquired a new stake in shares of Dollar Tree during the second quarter worth $2,643,741,000. Pzena Investment Management LLC bought a new position in Dollar Tree during the second quarter worth $1,176,661,000. State Street Corp raised its stake in Dollar Tree by 3.5% during the third quarter. State Street Corp now owns 9,421,856 shares of the company’s stock worth $889,141,000 after buying an additional 319,938 shares during the last quarter. Finally, Primecap Management Co. CA acquired a new position in Dollar Tree in the second quarter valued at $455,845,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
Dollar Tree Stock Down 5.6%
Shares of NASDAQ DLTR traded down $7.38 during mid-day trading on Tuesday, reaching $124.04. 2,847,861 shares of the company’s stock traded hands, compared to its average volume of 3,218,561. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.13 and a quick ratio of 0.39. The business has a 50-day simple moving average of $127.55 and a 200 day simple moving average of $114.85. The stock has a market cap of $23.27 billion, a P/E ratio of 15.15, a PEG ratio of 1.23 and a beta of 0.66. Dollar Tree, Inc. has a 1-year low of $84.71 and a 1-year high of $142.40.
Dollar Tree announced that its Board of Directors has approved a share buyback plan on Thursday, July 2nd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on DLTR shares. Wall Street Zen raised Dollar Tree from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings raised Dollar Tree from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 28th. Raymond James Financial reissued an “outperform” rating and issued a $145.00 price target on shares of Dollar Tree in a research note on Friday, August 28th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $131.00 price objective on shares of Dollar Tree in a research note on Monday, August 31st. Finally, Morgan Stanley increased their target price on shares of Dollar Tree from $130.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $131.68.
Get Our Latest Stock Analysis on DLTR
Insider Buying and Selling at Dollar Tree
In related news, Director Stephanie Stahl sold 1,185 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $131.47, for a total transaction of $155,791.95. Following the completion of the sale, the director owned 4,089 shares in the company, valued at approximately $537,580.83. This represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Aflatooni sold 2,500 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $126.01, for a total value of $315,025.00. Following the completion of the sale, the insider directly owned 24,820 shares of the company’s stock, valued at $3,127,568.20. The trade was a 9.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.10% of the company’s stock.
Dollar Tree 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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