Chevy Chase Trust Holdings LLC lessened its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 1.5% in the second quarter, HoldingsChannel reports. The fund owned 104,439 shares of the company’s stock after selling 1,572 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Dollar Tree were worth $10,344,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Private Client Wealth LLC raised its position in Dollar Tree by 164.0% during the 2nd quarter. TD Private Client Wealth LLC now owns 264 shares of the company’s stock valued at $26,000 after purchasing an additional 164 shares during the last quarter. Brooklyn Investment Group raised its position in Dollar Tree by 79.0% during the 1st quarter. Brooklyn Investment Group now owns 358 shares of the company’s stock valued at $27,000 after purchasing an additional 158 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Dollar Tree during the 1st quarter valued at approximately $30,000. Ameritas Advisory Services LLC bought a new position in Dollar Tree during the 2nd quarter valued at approximately $43,000. Finally, Trust Co. of Toledo NA OH bought a new position in Dollar Tree during the 2nd quarter valued at approximately $50,000. Institutional investors own 97.40% of the company’s stock.
Dollar Tree Stock Up 2.6%
DLTR stock opened at $96.44 on Monday. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $118.06. The company has a quick ratio of 0.27, a current ratio of 1.04 and a debt-to-equity ratio of 0.67. The firm has a market cap of $19.67 billion, a PE ratio of -7.11, a price-to-earnings-growth ratio of 1.70 and a beta of 0.85. The business has a 50 day moving average of $100.77 and a 200 day moving average of $96.37.
Dollar Tree announced that its Board of Directors has approved a stock repurchase plan on Wednesday, July 9th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 11.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other Dollar Tree news, Director Stephanie Stahl sold 1,185 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $100.32, for a total transaction of $118,879.20. Following the sale, the director directly owned 4,089 shares in the company, valued at approximately $410,208.48. This trade represents a 22.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.60% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Evercore ISI upped their price target on Dollar Tree from $90.00 to $105.00 and gave the company an “in-line” rating in a research report on Thursday. BNP Paribas lowered Dollar Tree from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 4th. Barclays raised Dollar Tree from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $95.00 to $138.00 in a research report on Monday, July 21st. Citigroup decreased their target price on Dollar Tree from $130.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. Finally, Wells Fargo & Company decreased their target price on Dollar Tree from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $109.00.
Get Our Latest Report on Dollar Tree
Dollar Tree 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.
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