Harber Asset Management LLC Has $10.21 Million Stock Position in Dollar Tree, Inc. $DLTR

Key Points

• Harber Asset Management LLC reduced its stake in Dollar Tree by 35.7%, selling over 75,000 shares and remaining one of its larger, but diminishing positions.
• Dollar Tree's stock has been rated with mixed opinions by analysts, with 8 Buy ratings, 11 Hold ratings, and 2 Sell ratings, along with a recent average target price increase to $104.53.
• The company reported a 11.3% year-over-year revenue increase, with earnings of $1.26 per share, surpassing estimates, and announced a $2.5 billion stock buyback program to further enhance shareholder value.

Harber Asset Management LLC lowered its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 35.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 135,962 shares of the company's stock after selling 75,563 shares during the period. Dollar Tree accounts for approximately 3.6% of Harber Asset Management LLC's holdings, making the stock its 12th largest position. Harber Asset Management LLC owned about 0.06% of Dollar Tree worth $10,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Dollar Tree by 50.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,724 shares of the company's stock worth $1,030,000 after purchasing an additional 4,619 shares during the period. McGinn Penninger Investment Management Inc. grew its holdings in Dollar Tree by 13.2% during the first quarter. McGinn Penninger Investment Management Inc. now owns 68,585 shares of the company's stock worth $5,149,000 after purchasing an additional 8,015 shares during the period. Bastion Asset Management Inc. bought a new position in Dollar Tree during the first quarter worth about $3,585,000. Empower Advisory Group LLC grew its holdings in Dollar Tree by 8.0% during the first quarter. Empower Advisory Group LLC now owns 821,288 shares of the company's stock worth $61,654,000 after purchasing an additional 60,865 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Dollar Tree by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,471,865 shares of the company's stock worth $110,493,000 after purchasing an additional 85,508 shares during the period. Institutional investors own 97.40% of the company's stock.

Insider Buying and Selling

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the business'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 transaction 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 $4,770,645.78. The trade was a 29.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Telsey Advisory Group upgraded Dollar Tree from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $100.00 to $130.00 in a report on Friday, August 29th. Piper Sandler lifted their price target on Dollar Tree from $93.00 to $112.00 and gave the stock a "neutral" rating in a report on Tuesday, August 19th. UBS Group restated a "buy" rating and set a $140.00 price objective on shares of Dollar Tree in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised their price objective on shares of Dollar Tree from $111.00 to $138.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Dollar Tree in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $104.15.

Dollar Tree Price Performance

Shares of NASDAQ DLTR traded down $9.32 during midday trading on Wednesday, reaching $102.03. The company's stock had a trading volume of 15,754,528 shares, compared to its average volume of 4,152,159. 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 fifty-two week low of $60.49 and a fifty-two week high of $118.06. The business's 50 day moving average price is $110.30 and its two-hundred day moving average price is $90.61. The company has a market cap of $21.29 billion, a P/E ratio of -7.36, a P/E/G ratio of 2.32 and a beta of 0.89.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.39. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm's quarterly 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. On average, analysts forecast that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree declared that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors 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.