Bayforest Capital Ltd Raises Stock Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Bayforest Capital Ltd grew its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 309.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,927 shares of the company’s stock after buying an additional 11,279 shares during the period. Dollar Tree makes up 0.5% of Bayforest Capital Ltd’s portfolio, making the stock its 20th largest holding. Bayforest Capital Ltd’s holdings in Dollar Tree were worth $1,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bessemer Group Inc. boosted its stake in shares of Dollar Tree by 34,600.0% during the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 346 shares during the period. Hurley Capital LLC purchased a new position in shares of Dollar Tree during the 4th quarter worth about $33,000. CX Institutional purchased a new position in shares of Dollar Tree during the 1st quarter worth about $43,000. Sentry Investment Management LLC purchased a new position in shares of Dollar Tree during the 1st quarter worth about $48,000. Finally, GeoWealth Management LLC purchased a new position in shares of Dollar Tree during the 4th quarter worth about $61,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Dollar Tree from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, June 5th. BMO Capital Markets lifted their price objective on shares of Dollar Tree from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Thursday, June 5th. Cfra Research upgraded shares of Dollar Tree to a “hold” rating in a report on Wednesday, May 28th. Bank of America decreased their price objective on shares of Dollar Tree from $75.00 to $70.00 and set an “underperform” rating for the company in a report on Tuesday, April 8th. Finally, Truist Financial lifted their price objective on shares of Dollar Tree from $89.00 to $100.00 and gave the company a “buy” rating in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.74.

Dollar Tree Trading Down 0.4%

NASDAQ DLTR opened at $114.99 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm has a market cap of $24.00 billion, a PE ratio of -8.30, a price-to-earnings-growth ratio of 2.47 and a beta of 0.86. The company has a 50 day moving average price of $100.47 and a 200 day moving average price of $83.52. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $115.99.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping 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 quarter in the previous year, the business posted $1.43 EPS. As a group, sell-side analysts forecast 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 purchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the transaction, the chief marketing officer owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company’s stock.

Dollar Tree Company Profile

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.