Concentric Capital Strategies LP Buys New Position in Dollar Tree, Inc. $DLTR

Key Points

• Concentric Capital Strategies LP acquired 28,864 shares of Dollar Tree, Inc., valued at approximately $2,167,000, signaling a significant investment during the first quarter.
• Multiple institutional investors are increasing their stakes in Dollar Tree, with 97.40% of the stock currently owned by these entities, reflecting strong institutional confidence.
• Research analysts have upgraded Dollar Tree's stock ratings, with Telsey Advisory Group raising the target price from $100.00 to $130.00, indicating positive sentiment and expectations for the company's performance.

Concentric Capital Strategies LP purchased a new stake in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,864 shares of the company's stock, valued at approximately $2,167,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Corvex Management LP raised its stake in Dollar Tree by 11.2% in the first quarter. Corvex Management LP now owns 3,210,753 shares of the company's stock valued at $241,031,000 after purchasing an additional 324,018 shares in the last quarter. Alliancebernstein L.P. raised its stake in Dollar Tree by 155.1% during the first quarter. Alliancebernstein L.P. now owns 1,353,050 shares of the company's stock worth $101,573,000 after acquiring an additional 822,694 shares in the last quarter. AQR Capital Management LLC raised its stake in Dollar Tree by 96.1% during the first quarter. AQR Capital Management LLC now owns 126,714 shares of the company's stock worth $9,367,000 after acquiring an additional 62,097 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Dollar Tree by 1,055.1% during the first quarter. Alyeska Investment Group L.P. now owns 2,322,189 shares of the company's stock worth $174,327,000 after acquiring an additional 2,121,149 shares in the last quarter. Finally, Amundi raised its stake in Dollar Tree by 29.6% during the first quarter. Amundi now owns 1,408,854 shares of the company's stock worth $105,763,000 after acquiring an additional 321,951 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DLTR. Wells Fargo & Company reissued an "overweight" rating on shares of Dollar Tree in a research note on Wednesday, September 3rd. Citigroup lowered their target price on Dollar Tree from $130.00 to $124.00 and set a "buy" rating for the company in a research note on Thursday, September 4th. Truist Financial boosted their target price on Dollar Tree from $127.00 to $129.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Gordon Haskett downgraded Dollar Tree from a "hold" rating to a "reduce" rating and set a $95.00 target price for the company. in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Dollar Tree from $138.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $108.26.

Dollar Tree Trading Down 3.7%

Shares of Dollar Tree stock traded down $3.67 on Tuesday, hitting $95.74. The stock had a trading volume of 4,078,176 shares, compared to its average volume of 4,200,709. The stock has a 50 day moving average of $110.42 and a 200 day moving average of $91.46. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $118.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.27 and a current ratio of 1.04. The firm has a market capitalization of $19.53 billion, a P/E ratio of -7.06, a PEG ratio of 1.84 and a beta of 0.89.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.38 by $0.39. Dollar Tree had a positive return on equity of 23.52% and a negative net margin of 13.46%.The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. Dollar Tree has set its FY 2025 guidance at 5.320-5.720 EPS. Sell-side analysts expect that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree announced that its Board of Directors has approved a stock buyback plan 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 plans are usually a sign that the company's board of directors believes its stock is undervalued.

Dollar Tree Profile

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.