LPL Financial LLC Increases Position in Dollar Tree, Inc. (NASDAQ:DLTR)

LPL Financial LLC lifted its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 99,280 shares of the company's stock after acquiring an additional 5,104 shares during the quarter. LPL Financial LLC's holdings in Dollar Tree were worth $7,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. increased its holdings in Dollar Tree by 48.1% during the fourth quarter. Russell Investments Group Ltd. now owns 82,984 shares of the company's stock valued at $6,219,000 after buying an additional 26,950 shares during the period. Advisory Services Network LLC increased its holdings in Dollar Tree by 116.0% during the fourth quarter. Advisory Services Network LLC now owns 10,126 shares of the company's stock valued at $759,000 after buying an additional 5,438 shares during the period. Raymond James Financial Inc. purchased a new position in Dollar Tree during the fourth quarter valued at approximately $24,922,000. Bessemer Group Inc. increased its holdings in Dollar Tree by 34,600.0% during the fourth 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. Finally, LSV Asset Management purchased a new position in Dollar Tree during the fourth quarter valued at approximately $3,327,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DLTR shares. Sanford C. Bernstein set a $82.00 target price on shares of Dollar Tree and gave the company a "market perform" rating in a research note on Monday, May 5th. Piper Sandler raised their target price 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. BMO Capital Markets raised their target price 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. Truist Financial restated a "buy" rating and issued a $127.00 target price (up from $109.00) on shares of Dollar Tree in a research note on Wednesday. Finally, Telsey Advisory Group restated a "market perform" rating and issued a $95.00 target price on shares of Dollar Tree in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $99.89.

Dollar Tree Stock Performance

DLTR traded up $1.34 on Wednesday, reaching $115.40. The stock had a trading volume of 3,331,041 shares, compared to its average volume of 4,144,864. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $118.06. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The business's 50-day moving average price is $105.42 and its two-hundred day moving average price is $86.55. The company has a market cap of $24.08 billion, a P/E ratio of -8.33, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.21 by $0.05. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. The company had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the company earned $1.43 earnings per share. Dollar Tree's quarterly revenue was up 11.3% compared to the same quarter last year. Sell-side analysts forecast that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

Dollar Tree announced that its board has approved a share repurchase program on Wednesday, July 9th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 11.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, CMO Richard L. Mcneely sold 21,026 shares of the business's stock in a transaction dated 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 owned 50,419 shares of the company's stock, valued at $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 is available at this link. 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.