DoubleLine ETF Adviser LP Takes Position in Dollar Tree, Inc. $DLTR

DoubleLine ETF Adviser LP bought a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 10,697 shares of the company’s stock, valued at approximately $1,009,000.

Several other institutional investors and hedge funds have also bought and sold shares of DLTR. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Dollar Tree by 20.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 563 shares of the company’s stock valued at $53,000 after purchasing an additional 95 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Dollar Tree by 3.8% in the third quarter. Versant Capital Management Inc now owns 2,867 shares of the company’s stock valued at $271,000 after purchasing an additional 106 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Dollar Tree by 10.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,122 shares of the company’s stock valued at $106,000 after acquiring an additional 108 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Dollar Tree by 1.3% during the third quarter. Vident Advisory LLC now owns 9,727 shares of the company’s stock valued at $918,000 after purchasing an additional 121 shares in the last quarter. Finally, Louisbourg Investments Inc. lifted its position in shares of Dollar Tree by 0.3% during the 3rd quarter. Louisbourg Investments Inc. now owns 45,304 shares of the company’s stock worth $4,275,000 after buying an additional 144 shares in the last quarter. 97.40% of the stock is owned by institutional investors.

Dollar Tree Trading Down 3.8%

Shares of DLTR stock opened at $107.46 on Friday. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of -7.99, a PEG ratio of 1.34 and a beta of 0.73. The company’s fifty day simple moving average is $125.92 and its two-hundred day simple moving average is $112.81. Dollar Tree, Inc. has a 1 year low of $61.87 and a 1 year high of $142.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.96 and a quick ratio of 0.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DLTR. Truist Financial set a $156.00 target price on Dollar Tree in a research note on Friday, January 16th. BMO Capital Markets lowered shares of Dollar Tree from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $110.00 to $95.00 in a research note on Friday, February 13th. Rothschild & Co Redburn set a $165.00 price objective on Dollar Tree and gave the company a “buy” rating in a research note on Tuesday, February 17th. Barclays increased their price objective on Dollar Tree from $136.00 to $149.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, Morgan Stanley boosted their target price on Dollar Tree from $130.00 to $146.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.62.

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.