Magnetar Financial LLC Takes $212,000 Position in Dollar Tree, Inc. $DLTR

Key Points

• Magnetar Financial LLC has acquired a new stake in Dollar Tree, Inc. valued at approximately $212,000 by purchasing 2,823 shares in the first quarter.
• Several hedge funds have increased their positions in Dollar Tree, with Brooklyn Investment Group boosting its stake by 79%, indicating a trend of growing institutional interest.
• Analysts remain positive on Dollar Tree, with multiple firms raising their target price to a range between $100.00 and $140.00, reflecting increased confidence in the company's performance.

Magnetar Financial LLC acquired a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,823 shares of the company's stock, valued at approximately $212,000.

A number of other hedge funds have also recently modified their holdings of DLTR. Brooklyn Investment Group grew its position in shares of Dollar Tree by 79.0% during the 1st quarter. Brooklyn Investment Group now owns 358 shares of the company's stock valued at $27,000 after acquiring an additional 158 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Dollar Tree during the 1st quarter valued at $30,000. CX Institutional purchased a new position in shares of Dollar Tree during the 1st quarter valued at $43,000. Sentry Investment Management LLC purchased a new position in shares of Dollar Tree during the 1st quarter valued at $48,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Dollar Tree by 121.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 974 shares of the company's stock valued at $73,000 after buying an additional 534 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Wall Street Analyst Weigh In

DLTR has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Dollar Tree from $105.00 to $130.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Telsey Advisory Group upgraded shares of Dollar Tree from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $100.00 to $130.00 in a research note on Friday, August 29th. UBS Group restated a "buy" rating and set a $140.00 target price on shares of Dollar Tree in a research note on Tuesday, August 26th. Guggenheim restated a "buy" rating and set a $100.00 target price on shares of Dollar Tree in a research note on Thursday, June 5th. Finally, Morgan Stanley lifted their target price on shares of Dollar Tree from $80.00 to $96.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $104.53.

Dollar Tree Stock Performance

DLTR opened at $111.35 on Wednesday. The stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of -8.03, a PEG ratio of 2.32 and a beta of 0.89. The company has a fifty day moving average of $110.30 and a 200 day moving average of $90.61. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $118.06. 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 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 negative net margin of 12.15% and a positive return on equity of 19.36%. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the business earned $1.43 earnings per share. Dollar Tree's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction 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 owned 50,419 shares in the company, valued at $4,770,645.78. This trade represents 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 through this link. 6.60% of the stock is owned by company insiders.

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.

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