Bastion Asset Management Inc. Makes New Investment in Dollar Tree, Inc. (NASDAQ:DLTR)

Key Points

• Bastion Asset Management Inc. has acquired 47,964 shares of Dollar Tree, valued at approximately $3,585,000, making it the fund's 25th largest position.
• Several major investors, including T. Rowe Price and Capital International Investors, have increased their stakes in Dollar Tree, which is predominantly owned by institutional investors at 97.40%.
• Analyst ratings for Dollar Tree vary, with a recent upgrade from Citigroup raising the target price to $103, while Bank of America downgraded its target to $70, leading to a consensus rating of "Hold."

Bastion Asset Management Inc. acquired a new position in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 47,964 shares of the company's stock, valued at approximately $3,585,000. Dollar Tree comprises about 2.0% of Bastion Asset Management Inc.'s portfolio, making the stock its 25th biggest position.

Several other large investors also recently added to or reduced their stakes in DLTR. T. Rowe Price Investment Management Inc. lifted its position in Dollar Tree by 5.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,920,748 shares of the company's stock worth $743,461,000 after buying an additional 533,920 shares during the last quarter. Capital International Investors boosted its position in shares of Dollar Tree by 30.1% during the fourth quarter. Capital International Investors now owns 8,753,693 shares of the company's stock valued at $656,000,000 after buying an additional 2,023,819 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Dollar Tree by 14.4% during the fourth quarter. EdgePoint Investment Group Inc. now owns 7,940,163 shares of the company's stock valued at $595,036,000 after buying an additional 1,000,637 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Dollar Tree by 382.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company's stock valued at $488,974,000 after buying an additional 5,173,238 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Dollar Tree by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 5,109,852 shares of the company's stock valued at $381,964,000 after buying an additional 222,352 shares during the period. 97.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup upgraded Dollar Tree from a "neutral" rating to a "buy" rating and boosted their target price for the company from $76.00 to $103.00 in a research report on Monday, April 7th. Evercore ISI boosted their target price on Dollar Tree from $92.00 to $94.00 and gave the company an "in-line" rating in a research report on Tuesday, June 24th. Bank of America cut their price target on shares of Dollar Tree from $75.00 to $70.00 and set an "underperform" rating on the stock in a report on Tuesday, April 8th. UBS Group upped their price target 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. Finally, Piper Sandler upped their price target on shares of Dollar Tree from $72.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $97.74.

Insiders Place Their Bets

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the firm's 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 completion of the sale, the chief marketing officer directly owned 50,419 shares in the company, valued at $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is currently owned by company insiders.

Dollar Tree Stock Performance

Shares of DLTR stock opened at $114.41 on Friday. The firm has a market cap of $23.88 billion, a price-to-earnings ratio of -8.25, a PEG ratio of 2.45 and a beta of 0.86. The company's 50 day moving average is $99.41 and its 200 day moving average is $82.85. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $115.99.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.05. The company had revenue of $4.64 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. On average, sell-side analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 9th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to repurchase up to 11.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

About Dollar Tree

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.

Want to see what other hedge funds are holding DLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dollar Tree, Inc. (NASDAQ:DLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.