Mackenzie Financial Corp Has $6.30 Million Stock Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Key Points

• Mackenzie Financial Corp increased its stake in Dollar Tree by 35.8%, acquiring an additional 22,139 shares during the first quarter, bringing its total holdings to 83,929 shares worth approximately $6.3 million.
• Dollar Tree's recent earnings report revealed an EPS of $1.26, exceeding estimates, with revenues up 11.3% year-over-year at $4.64 billion for the quarter.
• The company has authorized a $2.5 billion stock repurchase program, allowing it to buy back up to 11.5% of its shares in a signal of potential stock undervaluation.

Mackenzie Financial Corp lifted its holdings in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 35.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,929 shares of the company's stock after buying an additional 22,139 shares during the period. Mackenzie Financial Corp's holdings in Dollar Tree were worth $6,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bessemer Group Inc. raised 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 in the last quarter. Hurley Capital LLC bought a new position in Dollar Tree during the fourth quarter valued at about $33,000. CX Institutional bought a new position in Dollar Tree during the first quarter valued at about $43,000. Sentry Investment Management LLC bought a new position in Dollar Tree during the first quarter valued at about $48,000. Finally, GeoWealth Management LLC bought a new position in Dollar Tree during the fourth quarter valued at about $61,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Insider Transactions at Dollar Tree

In other Dollar Tree 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 transaction of $1,989,480.12. Following the transaction, the chief marketing officer owned 50,419 shares of the company's stock, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company's stock.

Dollar Tree Price Performance

Shares of DLTR stock traded up $1.00 during trading hours on Monday, hitting $115.72. The company had a trading volume of 3,290,810 shares, compared to its average volume of 3,223,185. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of -8.35, a PEG ratio of 2.46 and a beta of 0.88. 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 12 month low of $60.49 and a 12 month high of $116.50. The firm's fifty day moving average is $101.98 and its 200 day moving average is $84.52.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.21 by $0.05. The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. Dollar Tree's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. On average, sell-side analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree declared that its board has initiated a stock repurchase program on Wednesday, July 9th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 11.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Sanford C. Bernstein set a $82.00 target price on Dollar Tree and gave the company a "market perform" rating in a report on Monday, May 5th. Morgan Stanley boosted their price objective on Dollar Tree from $80.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 5th. BMO Capital Markets boosted their price objective on Dollar Tree from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday, June 5th. The Goldman Sachs Group cut Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, June 5th. Finally, Citigroup raised Dollar Tree from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $76.00 to $103.00 in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Dollar Tree currently has an average rating of "Hold" and an average price target of $97.74.

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.