Corebridge Financial Inc. Has $4.51 Million Stock Holdings in Dollar Tree, Inc. $DLTR

Key Points

• Corebridge Financial Inc. reduced its stake in Dollar Tree, Inc. by 3.9%, holding 60,085 shares valued at approximately $4.51 million after selling 2,451 shares in the 1st quarter.
• Analysts have recently raised their price targets for Dollar Tree, with JPMorgan increasing it from $111.00 to $138.00, reflecting an overall average target price of $104.53.
• Dollar Tree announced a share buyback plan to repurchase up to $2.50 billion of its outstanding shares, signaling confidence from management regarding the stock's valuation.

Corebridge Financial Inc. cut its stake in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 3.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,085 shares of the company's stock after selling 2,451 shares during the period. Corebridge Financial Inc.'s holdings in Dollar Tree were worth $4,511,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group lifted its holdings in Dollar Tree by 79.0% in the 1st quarter. Brooklyn Investment Group now owns 358 shares of the company's stock worth $27,000 after buying an additional 158 shares during the period. Zions Bancorporation National Association UT purchased a new position in Dollar Tree in the 1st quarter worth approximately $30,000. CX Institutional bought a new position in shares of Dollar Tree during the first quarter valued at $43,000. Sentry Investment Management LLC purchased a new position in shares of Dollar Tree during the first quarter valued at approximately $48,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Dollar Tree by 121.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 974 shares of the company's stock worth $73,000 after purchasing an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DLTR. Cfra Research upgraded shares of Dollar Tree to a "hold" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. increased their target price on shares of Dollar Tree from $138.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday. Citigroup lowered their price target on Dollar Tree from $130.00 to $124.00 and set a "buy" rating for the company in a research report on Thursday. Wells Fargo & Company restated an "overweight" rating on shares of Dollar Tree in a research note on Wednesday. Finally, Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Dollar Tree in a research report on Thursday, June 5th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $105.35.

Insider Activity at Dollar Tree

In related news, CMO Richard L. Mcneely sold 21,026 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $94.62, for a total value of $1,989,480.12. Following the completion of the transaction, the chief marketing officer directly owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.60% of the stock is currently owned by insiders.

Dollar Tree Stock Down 2.4%

Shares of Dollar Tree stock traded down $2.44 during trading hours on Thursday, reaching $99.60. 4,806,811 shares of the company were exchanged, compared to its average volume of 4,155,237. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. Dollar Tree, Inc. has a 1 year low of $60.49 and a 1 year high of $118.06. The firm has a market cap of $20.79 billion, a PE ratio of -7.18, a PEG ratio of 2.32 and a beta of 0.89. The stock's fifty day moving average is $110.35 and its 200 day moving average is $90.69.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.39. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%.The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the company posted $0.67 earnings per share. The firm's quarterly revenue was up 12.3% compared to the same quarter last year. Dollar Tree has set its FY 2025 guidance at 5.320-5.720 EPS. As a group, equities research analysts forecast that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

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

Dollar Tree Company 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.