Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 446,589 shares of the company’s stock, valued at approximately $54,015,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.23% of Dollar Tree as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Cullen Frost Bankers Inc. bought a new position in Dollar Tree in the fourth quarter valued at about $25,000. Reflection Asset Management bought a new position in shares of Dollar Tree in the fourth quarter worth about $25,000. Covestor Ltd boosted its stake in shares of Dollar Tree by 60.9% in the 4th quarter. Covestor Ltd now owns 222 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its stake in shares of Dollar Tree by 59.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 259 shares of the company’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Finally, Wilkerson Advisory Group LLC grew its holdings in shares of Dollar Tree by 80.1% during the 1st quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock valued at $29,000 after purchasing an additional 117 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.
Dollar Tree Price Performance
Shares of DLTR opened at $131.84 on Thursday. Dollar Tree, Inc. has a 1 year low of $84.71 and a 1 year high of $142.40. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.16 and a quick ratio of 0.39. The company has a market capitalization of $25.34 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.49 and a beta of 0.64. The business has a 50-day moving average of $123.31 and a 200-day moving average of $114.18.
Dollar Tree announced that its board has approved a share buyback plan on Thursday, July 2nd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages recently commented on DLTR. Guggenheim increased their price objective on shares of Dollar Tree from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 29th. BNP Paribas Exane boosted their target price on shares of Dollar Tree from $88.00 to $98.00 and gave the stock an “underperform” rating in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Dollar Tree from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Morgan Stanley increased their price target on Dollar Tree from $126.00 to $130.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group downgraded Dollar Tree from a “neutral” rating to a “hold” rating in a report on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $123.41.
Check Out Our Latest Stock Analysis on DLTR
Dollar Tree Company 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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