M&T Bank Corp Has $897,000 Position in Dollar Tree, Inc. (NASDAQ:DLTR)

M&T Bank Corp reduced its stake in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,940 shares of the company's stock after selling 3,005 shares during the quarter. M&T Bank Corp's holdings in Dollar Tree were worth $897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DLTR. Assetmark Inc. lifted its holdings in Dollar Tree by 74.1% in the 4th quarter. Assetmark Inc. now owns 350 shares of the company's stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Dollar Tree in the 4th quarter worth approximately $4,706,000. AlphaQuest LLC lifted its holdings in Dollar Tree by 17.8% in the 4th quarter. AlphaQuest LLC now owns 2,363 shares of the company's stock worth $177,000 after purchasing an additional 357 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Dollar Tree during the fourth quarter worth approximately $380,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Dollar Tree by 111.0% during the fourth quarter. Natixis Advisors LLC now owns 650,493 shares of the company's stock worth $48,748,000 after buying an additional 342,196 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Dollar Tree Stock Performance

Shares of NASDAQ:DLTR opened at $108.63 on Tuesday. The business's fifty day moving average price is $94.83 and its two-hundred day moving average price is $80.68. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $109.74. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of -7.84, a price-to-earnings-growth ratio of 2.35 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $4.64 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The business's revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI upped their price target on Dollar Tree from $92.00 to $94.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. Loop Capital reiterated a "hold" rating on shares of Dollar Tree in a report on Thursday, March 27th. Piper Sandler upped their price target on Dollar Tree from $72.00 to $93.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. upgraded Dollar Tree from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $111.00 in a report on Thursday, June 5th. Finally, Bank of America cut their price target on Dollar Tree from $75.00 to $70.00 and set an "underperform" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Dollar Tree currently has a consensus rating of "Hold" and a consensus price target of $90.37.

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 on Friday, June 6th. The stock was sold at an average price of $94.62, for a total value 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. 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 this hyperlink. Corporate insiders own 6.60% of the company's stock.

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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