Dollar Tree, Inc. (NASDAQ:DLTR) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 129.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 42,721 shares of the company's stock after acquiring an additional 24,069 shares during the period. Edgestream Partners L.P.'s holdings in Dollar Tree were worth $3,207,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after acquiring an additional 346 shares during the period. Hurley Capital LLC acquired a new stake in shares of Dollar Tree in the fourth quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Dollar Tree in the fourth quarter valued at about $43,000. CX Institutional acquired a new stake in shares of Dollar Tree in the first quarter valued at about $43,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of Dollar Tree in the first quarter valued at about $48,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Wall Street Analyst Weigh In

DLTR has been the subject of several recent analyst reports. The Goldman Sachs Group cut shares of Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, June 5th. Bank of America reduced their price objective on shares of Dollar Tree from $75.00 to $70.00 and set an "underperform" rating for the company in a research note on Tuesday, April 8th. Citigroup upgraded shares of Dollar Tree from a "neutral" rating to a "buy" rating and raised their price objective for the company from $76.00 to $103.00 in a research note on Monday, April 7th. Loop Capital reiterated a "hold" rating on shares of Dollar Tree in a research note on Thursday, March 27th. Finally, Truist Financial raised their target price on shares of Dollar Tree from $89.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $92.00.

Dollar Tree Trading Up 1.4%

Dollar Tree stock traded up $1.53 during trading on Thursday, reaching $108.15. The company had a trading volume of 3,479,905 shares, compared to its average volume of 4,234,897. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $109.74. The stock's 50 day moving average price is $95.72 and its two-hundred day moving average price is $81.04. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of -7.80, a PEG ratio of 2.29 and a beta of 0.86. 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 (NASDAQ:DLTR - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.05. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The firm had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Dollar Tree's revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts expect that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree declared that its Board of Directors has authorized a share repurchase plan on Wednesday, July 9th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Dollar Tree

In related 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 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 approximately $4,770,645.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.