Caitong International Asset Management Co. Ltd Has $642,000 Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Key Points

• Caitong International Asset Management Co. Ltd significantly increased its stake in Dollar Tree, purchasing 8,542 shares to boost its holdings by 71,183.3%, bringing its total shares to 8,554 valued at approximately $642,000.
• Various institutional investors are actively adjusting their positions in Dollar Tree, with 97.40% of the stock owned by such entities, indicating strong institutional interest.
• Wall Street analysts have raised their price targets for Dollar Tree, with firms like Barclays increasing their target from $95 to $138, reflecting positive sentiment towards the company's growth prospects.

Caitong International Asset Management Co. Ltd increased its position in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 71,183.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,554 shares of the company's stock after acquiring an additional 8,542 shares during the quarter. Caitong International Asset Management Co. Ltd's holdings in Dollar Tree were worth $642,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DLTR. Bessemer Group Inc. increased its stake in Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company's stock valued at $26,000 after buying an additional 346 shares during the period. Zions Bancorporation National Association UT acquired a new position in Dollar Tree in the 1st quarter valued at approximately $30,000. CX Institutional acquired a new position in Dollar Tree in the 1st quarter valued at approximately $43,000. Sentry Investment Management LLC acquired a new position in Dollar Tree in the 1st quarter valued at approximately $48,000. Finally, GeoWealth Management LLC acquired a new position in Dollar Tree in the 4th quarter valued at approximately $61,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Dollar Tree Stock Performance

Shares of NASDAQ DLTR traded down $0.77 during trading hours on Thursday, hitting $114.63. 3,658,557 shares of the stock were exchanged, compared to its average volume of 3,137,621. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72. The company's 50 day moving average is $106.32 and its 200 day moving average is $87.02. The firm has a market capitalization of $23.92 billion, a P/E ratio of -8.27, a P/E/G ratio of 2.47 and a beta of 0.88. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $118.06.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.05. The business 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. On average, research analysts expect that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Dollar Tree announced that its board has initiated a stock repurchase program on Wednesday, July 9th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on DLTR shares. Piper Sandler upped their price objective on shares of Dollar Tree from $72.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. upped their price objective on shares of Dollar Tree from $111.00 to $138.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Evercore ISI upped their price objective on shares of Dollar Tree from $104.00 to $108.00 and gave the company an "in-line" rating in a research note on Tuesday. BMO Capital Markets upped their price objective on shares of Dollar Tree from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Thursday, June 5th. Finally, Truist Financial reissued a "buy" rating and issued a $127.00 target price (up from $109.00) on shares of Dollar Tree in a research report on Wednesday. Two investment 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 MarketBeat.com, Dollar Tree currently has a consensus rating of "Hold" and a consensus target price of $99.89.

Insider Activity

In related news, CMO Richard L. Mcneely sold 21,026 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the completion of the sale, the chief marketing officer directly owned 50,419 shares of the company's stock, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company's stock.

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.