Landscape Capital Management L.L.C. acquired a new stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,170 shares of the company’s stock, valued at approximately $6,811,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC boosted its stake in Dollar Tree by 13.7% in the 1st quarter. Wealthfront Advisers LLC now owns 76,985 shares of the company’s stock worth $8,431,000 after buying an additional 9,288 shares during the last quarter. Hanseatic Management Services Inc. purchased a new stake in Dollar Tree in the 1st quarter valued at about $950,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Dollar Tree by 4.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,821,852 shares of the company’s stock valued at $224,106,000 after acquiring an additional 81,695 shares during the last quarter. Capital International Inc. CA increased its stake in shares of Dollar Tree by 1,920.0% during the 4th quarter. Capital International Inc. CA now owns 116,109 shares of the company’s stock valued at $14,283,000 after acquiring an additional 110,361 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Dollar Tree by 10.4% during the 1st quarter. Hsbc Holdings PLC now owns 646,333 shares of the company’s stock worth $70,363,000 after acquiring an additional 60,955 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.
Dollar Tree Stock Up 2.4%
Shares of NASDAQ:DLTR opened at $131.48 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.39 and a current ratio of 1.16. Dollar Tree, Inc. has a 1 year low of $84.71 and a 1 year high of $142.40. The stock has a market capitalization of $25.27 billion, a P/E ratio of 20.54, a PEG ratio of 1.47 and a beta of 0.64. The stock has a 50-day simple moving average of $123.93 and a 200-day simple moving average of $114.37.
Dollar Tree declared that its board has authorized a share buyback program on Thursday, July 2nd that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research firms recently issued reports on DLTR. Truist Financial decreased their target price 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. JPMorgan Chase & Co. upped their price target on shares of Dollar Tree from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Morgan Stanley increased their price target on shares of Dollar Tree from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. UBS Group reiterated a “buy” rating on shares of Dollar Tree in a report on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Dollar Tree from $90.00 to $98.00 and gave the company an “underperform” rating in a research note on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.41.
Read Our Latest Stock Report 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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