Cibc World Market Inc. acquired a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 92,396 shares of the company’s stock, valued at approximately $11,175,000.
Other institutional investors have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Dollar Tree in the 4th quarter valued at approximately $25,000. Reflection Asset Management purchased a new stake in Dollar Tree in the fourth quarter worth $25,000. Covestor Ltd raised its holdings in Dollar Tree by 60.9% in the fourth quarter. Covestor Ltd now owns 222 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Basecamp Wealth Advisors LLC raised its holdings in Dollar Tree by 59.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 259 shares of the company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Finally, Wilkerson Advisory Group LLC lifted its position in Dollar Tree by 80.1% during the first quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock valued at $29,000 after buying an additional 117 shares during the period. Institutional investors own 97.40% of the company’s stock.
Dollar Tree Stock Up 4.0%
NASDAQ:DLTR opened at $136.75 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.39 and a current ratio of 1.16. The firm has a market cap of $26.28 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.50 and a beta of 0.64. Dollar Tree, Inc. has a fifty-two week low of $84.71 and a fifty-two week high of $142.40. The firm has a 50-day simple moving average of $124.40 and a two-hundred day simple moving average of $114.47.
Dollar Tree announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 2nd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Dollar Tree in a research report on Monday, August 17th. Freedom Capital cut shares of Dollar Tree from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Gordon Haskett raised shares of Dollar Tree from a “reduce” rating to a “hold” rating and set a $115.00 price objective on the stock in a research note on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Dollar Tree from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, The Goldman Sachs Group downgraded shares of Dollar Tree from a “neutral” rating to a “hold” rating in a research note on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $123.41.
Read Our Latest Report on Dollar Tree
Dollar Tree 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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