Deutsche Bank AG purchased a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 714,235 shares of the company’s stock, valued at approximately $86,387,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of DLTR. NewEdge Advisors LLC lifted its holdings 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 valued at $1,032,000 after buying an additional 13,338 shares during the period. Woodline Partners LP raised its position in Dollar Tree by 40.7% in the first quarter. Woodline Partners LP now owns 17,078 shares of the company’s stock worth $1,282,000 after acquiring an additional 4,941 shares in the last quarter. Focus Partners Wealth raised its position in Dollar Tree by 2.0% in the first quarter. Focus Partners Wealth now owns 10,646 shares of the company’s stock worth $799,000 after acquiring an additional 213 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Dollar Tree in the second quarter worth about $257,000. Finally, CW Advisors LLC acquired a new stake in Dollar Tree in the 2nd quarter valued at about $264,000. Institutional investors own 97.40% of the company’s stock.
Dollar Tree Stock Performance
Shares of DLTR opened at $128.45 on Friday. The company has a market capitalization of $24.69 billion, a PE ratio of 20.07, a PEG ratio of 1.50 and a beta of 0.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.39 and a current ratio of 1.16. The company’s 50 day moving average price is $123.58 and its 200 day moving average price is $114.25. Dollar Tree, Inc. has a 52 week low of $84.71 and a 52 week high of $142.40.
Dollar Tree announced that its board has initiated a share repurchase plan on Thursday, July 2nd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Analyst Ratings Changes
Several equities analysts have recently weighed in on DLTR shares. The Goldman Sachs Group lowered shares of Dollar Tree from a “neutral” rating to a “hold” rating in a research report on Wednesday, July 8th. Bank of America reiterated an “underperform” rating on shares of Dollar Tree in a report on Thursday, May 28th. Jefferies Financial Group raised shares of Dollar Tree from a “moderate sell” rating to a “buy” rating in a research note on Wednesday, July 8th. Evercore upgraded shares of Dollar Tree from a “hold” rating to an “outperform” rating in a report on Wednesday, July 8th. Finally, Truist Financial decreased their price target on shares of Dollar Tree from $142.00 to $107.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Ten equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, Dollar Tree presently has an average rating of “Hold” and an average price target of $123.41.
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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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