UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 19.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,450,333 shares of the company’s stock after purchasing an additional 237,789 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Dollar Tree were worth $175,418,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Algert Global LLC raised its holdings in shares of Dollar Tree by 17.9% during the 2nd quarter. Algert Global LLC now owns 69,452 shares of the company’s stock valued at $7,995,000 after buying an additional 10,547 shares during the period. Wealthfront Advisers LLC boosted its holdings 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 acquiring an additional 9,288 shares during the period. Hanseatic Management Services Inc. purchased a new position in Dollar Tree in the 1st quarter worth approximately $950,000. Arrowstreet Capital Limited Partnership grew its position in Dollar Tree by 4.7% in the fourth 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 in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Dollar Tree in the second quarter valued at approximately $110,626,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
Dollar Tree Stock Performance
Dollar Tree stock opened at $131.71 on Wednesday. Dollar Tree, Inc. has a 52 week low of $84.71 and a 52 week high of $142.40. The company has a current ratio of 1.13, a quick ratio of 0.39 and a debt-to-equity ratio of 0.86. The stock has a market cap of $24.71 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.17 and a beta of 0.66. The stock has a 50 day moving average of $126.65 and a 200-day moving average of $114.79.
Dollar Tree announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 2nd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on DLTR shares. Evercore raised shares of Dollar Tree from a “hold” rating to an “outperform” rating in a research report on Wednesday, July 8th. Wall Street Zen raised shares of Dollar Tree from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Guggenheim lifted their price target on shares of Dollar Tree from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. The Goldman Sachs Group reissued a “neutral” rating and issued a $131.00 price objective on shares of Dollar Tree in a research report on Monday. Finally, Raymond James Financial restated an “outperform” rating and set a $145.00 target price on shares of Dollar Tree in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Dollar Tree has an average rating of “Hold” and a consensus target price of $130.36.
Check Out Our Latest Report on DLTR
Insiders Place Their Bets
In other news, insider Robert Aflatooni sold 2,500 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $126.01, for a total value of $315,025.00. Following the completion of the sale, the insider owned 24,820 shares of the company’s stock, valued at approximately $3,127,568.20. The trade was a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is currently owned by corporate insiders.
About Dollar Tree
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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