Allianz Asset Management GmbH Trims Stock Holdings in Dollar Tree, Inc. (NASDAQ:DLTR)

Allianz Asset Management GmbH reduced its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 4.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,158 shares of the company’s stock after selling 949 shares during the period. Allianz Asset Management GmbH’s holdings in Dollar Tree were worth $1,663,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in shares of Dollar Tree by 34,600.0% during the fourth quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock valued at $26,000 after purchasing an additional 346 shares during the period. Hurley Capital LLC purchased a new position in Dollar Tree in the 4th quarter worth about $33,000. CX Institutional bought a new stake in Dollar Tree during the 1st quarter valued at about $43,000. Sentry Investment Management LLC purchased a new stake in Dollar Tree in the 1st quarter valued at about $48,000. Finally, GeoWealth Management LLC bought a new position in Dollar Tree in the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DLTR. The Goldman Sachs Group downgraded shares of Dollar Tree from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, June 5th. Wells Fargo & Company lifted their target price on Dollar Tree from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Citigroup upgraded Dollar Tree from a “neutral” rating to a “buy” rating and upped their target price for the stock from $76.00 to $103.00 in a report on Monday, April 7th. Truist Financial raised their price target on Dollar Tree from $89.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, June 2nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $95.00 price objective on shares of Dollar Tree in a report on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.74.

Dollar Tree Trading Down 0.7%

Dollar Tree stock 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. The stock has a market cap of $23.82 billion, a PE ratio of -8.24, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86. The stock has a 50-day moving average of $100.98 and a two-hundred day moving average of $83.73. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $115.99.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.21 by $0.05. The firm had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.52 billion. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. Dollar Tree’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $1.43 EPS. On average, research analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree announced that its board has approved a stock repurchase plan on Wednesday, July 9th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Dollar Tree

In related news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $94.62, for a total value of $1,989,480.12. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is owned by company insiders.

About Dollar Tree

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.