First National Bank of Omaha purchased a new position in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) during the second quarter, Holdings Channel reports. The firm purchased 53,625 shares of the company’s stock, valued at approximately $6,254,000.
A number of other hedge funds also recently modified their holdings of the stock. Cullen Frost Bankers Inc. bought a new stake in Dollar Tree during the fourth quarter worth about $25,000. Reflection Asset Management acquired a new stake in Dollar Tree during the fourth quarter worth about $25,000. Covestor Ltd increased its holdings in 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 buying an additional 84 shares during the period. Basecamp Wealth Advisors LLC raised its position 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 buying an additional 97 shares in the last quarter. Finally, Wilkerson Advisory Group LLC raised its position in shares of Dollar Tree by 80.1% in the 1st quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock valued at $29,000 after buying an additional 117 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.
Dollar Tree Price Performance
DLTR stock opened at $130.48 on Wednesday. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.48 and a beta of 0.64. 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 50 day simple moving average of $122.88 and a 200 day simple moving average of $114.07. Dollar Tree, Inc. has a 1 year low of $84.71 and a 1 year high of $142.40.
Dollar Tree declared that its Board of Directors has initiated a share repurchase program on Thursday, July 2nd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
DLTR has been the topic of a number of recent analyst reports. Guggenheim lifted 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. Evercore raised Dollar Tree from a “hold” rating to an “outperform” rating in a report on Wednesday, July 8th. Piper Sandler reduced their target price on Dollar Tree from $116.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Wall Street Zen lowered Dollar Tree from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, BMO Capital Markets boosted their price target on Dollar Tree from $90.00 to $98.00 and gave the stock an “underperform” rating in a report on Tuesday, August 11th. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.41.
Check Out Our Latest Stock 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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