California Public Employees Retirement System Sells 12,259 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

California Public Employees Retirement System decreased its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 1.1% during the second quarter, HoldingsChannel.com reports. The fund owned 1,063,118 shares of the company’s stock after selling 12,259 shares during the quarter. California Public Employees Retirement System’s holdings in Dollar Tree were worth $105,780,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its stake in Dollar Tree by 13.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 842 shares of the company’s stock worth $96,000 after acquiring an additional 100 shares during the last quarter. Pointe Capital Management LLC increased its stake in Dollar Tree by 3.9% in the 2nd quarter. Pointe Capital Management LLC now owns 2,821 shares of the company’s stock worth $281,000 after acquiring an additional 106 shares during the last quarter. Rothschild Investment Corp IL increased its stake in Dollar Tree by 1.9% in the 2nd quarter. Rothschild Investment Corp IL now owns 6,200 shares of the company’s stock worth $617,000 after acquiring an additional 116 shares during the last quarter. CX Institutional increased its stake in Dollar Tree by 32.1% in the 2nd quarter. CX Institutional now owns 506 shares of the company’s stock worth $50,000 after acquiring an additional 123 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in Dollar Tree by 48.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 391 shares of the company’s stock worth $45,000 after acquiring an additional 127 shares during the last quarter. 87.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ DLTR opened at $97.37 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.26. The stock has a market capitalization of $21.90 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.56 and a beta of 0.84. Dollar Tree, Inc. has a 1-year low of $84.26 and a 1-year high of $120.37. The business has a fifty day moving average price of $95.04 and a 200 day moving average price of $102.36.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Wednesday, August 25th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.22. The firm had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Dollar Tree had a return on equity of 20.78% and a net margin of 5.78%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. As a group, equities research analysts anticipate that Dollar Tree, Inc. will post 5.53 earnings per share for the current fiscal year.

Dollar Tree announced that its Board of Directors has authorized a share repurchase program on Wednesday, September 29th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 11.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of analysts have issued reports on the company. KeyCorp reduced their price objective on Dollar Tree from $125.00 to $116.00 and set an “overweight” rating on the stock in a research note on Friday, August 27th. Morgan Stanley cut their target price on Dollar Tree from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, August 27th. TheStreet downgraded Dollar Tree from a “b” rating to a “c+” rating in a research report on Thursday, September 2nd. UBS Group cut their target price on Dollar Tree from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, August 27th. Finally, Piper Sandler downgraded Dollar Tree from an “overweight” rating to a “neutral” rating and cut their target price for the company from $117.00 to $102.00 in a research report on Thursday, June 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $111.69.

About Dollar Tree

Dollar Tree, Inc owns and operates discount variety stores offering merchandise at the fixed prices. It operates through Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and in Canada.

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Institutional Ownership by Quarter for Dollar Tree (NASDAQ:DLTR)

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