Dollar Tree, Inc. (NASDAQ:DLTR) Stake Lessened by Arizona State Retirement System

Arizona State Retirement System lessened its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,053 shares of the company’s stock after selling 253 shares during the period. Arizona State Retirement System’s holdings in Dollar Tree were worth $4,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ballentine Partners LLC bought a new stake in Dollar Tree during the first quarter valued at $227,000. Callahan Advisors LLC bought a new stake in Dollar Tree during the first quarter valued at $204,000. SteelPeak Wealth LLC bought a new stake in Dollar Tree during the first quarter valued at $2,542,000. Xponance Inc. grew its position in shares of Dollar Tree by 2.8% during the first quarter. Xponance Inc. now owns 29,534 shares of the company’s stock worth $2,217,000 after acquiring an additional 806 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Dollar Tree by 18.6% during the first quarter. Nisa Investment Advisors LLC now owns 47,172 shares of the company’s stock worth $3,541,000 after acquiring an additional 7,397 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Price Performance

Shares of NASDAQ DLTR opened at $106.55 on Wednesday. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $109.74. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $22.24 billion, a price-to-earnings ratio of -7.69, a PEG ratio of 2.33 and a beta of 0.86. The firm has a 50-day moving average of $95.28 and a two-hundred day moving average of $80.86.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $1.43 EPS. As a group, analysts expect that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree declared that its board has authorized a stock repurchase program on Wednesday, July 9th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 11.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity at Dollar Tree

In other news, CMO Richard L. Mcneely sold 21,026 shares of Dollar Tree stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $94.62, for a total value of $1,989,480.12. Following the transaction, the chief marketing officer directly owned 50,419 shares of the company’s stock, valued at $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DLTR shares. Cfra Research upgraded shares of Dollar Tree to a “hold” rating in a research report on Wednesday, May 28th. UBS Group upped their price objective on shares of Dollar Tree from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Loop Capital reaffirmed a “hold” rating on shares of Dollar Tree in a report on Thursday, March 27th. BMO Capital Markets upped their price objective on shares of Dollar Tree from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company set a $105.00 price objective on shares of Dollar Tree and gave the stock an “overweight” rating in a report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $90.37.

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.