Northern Trust Corp Raises Position in Dollar Tree, Inc. $DLTR

Key Points

• Northern Trust Corp increased its holdings in Dollar Tree, Inc. by 2.7% during Q1, owning about 2.05 million shares valued at approximately $153.68 million.
• Multiple analysts have raised their price targets for Dollar Tree, with JPMorgan Chase boosting it from $111.00 to $138.00, indicating a strong bullish sentiment.
• Dollar Tree's Board approved a $2.50 billion stock buyback plan, reflecting confidence in the stock's value amid recent share performance improvements.

Northern Trust Corp increased its position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,047,085 shares of the company's stock after buying an additional 54,343 shares during the period. Northern Trust Corp owned 0.95% of Dollar Tree worth $153,675,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DLTR. Brooklyn Investment Group raised its holdings in shares of Dollar Tree by 79.0% in the first quarter. Brooklyn Investment Group now owns 358 shares of the company's stock worth $27,000 after buying an additional 158 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Dollar Tree in the first quarter worth approximately $30,000. CX Institutional purchased a new stake in shares of Dollar Tree in the first quarter worth approximately $43,000. Sentry Investment Management LLC purchased a new stake in shares of Dollar Tree in the first quarter worth approximately $48,000. Finally, GeoWealth Management LLC purchased a new stake in shares of Dollar Tree in the fourth quarter worth approximately $61,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dollar Tree

In other news, CMO Richard L. Mcneely sold 21,026 shares of the 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 completion of the sale, the chief marketing officer owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.60% of the company's stock.

Dollar Tree Stock Up 1.0%

NASDAQ DLTR traded up $1.14 during midday trading on Wednesday, hitting $113.12. 1,539,477 shares of the company traded hands, compared to its average volume of 4,071,835. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72. The company has a market cap of $23.61 billion, a PE ratio of -8.18, a price-to-earnings-growth ratio of 2.39 and a beta of 0.88. The company's 50-day simple moving average is $109.05 and its 200-day simple moving average is $89.27. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $118.06.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.05. The business had revenue of $4.64 billion for the quarter, compared to analysts' expectations of $4.52 billion. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%.The business's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Dollar Tree has set its FY 2025 guidance at 5.150-5.650 EPS. As a group, equities research analysts forecast that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

Dollar Tree announced that its Board of Directors has approved a stock repurchase plan on Wednesday, July 9th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to buy up to 11.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Dollar Tree in a report on Thursday, July 17th. They issued a "hold" rating and a $106.00 price target on the stock. Guggenheim reiterated a "buy" rating and issued a $100.00 price target on shares of Dollar Tree in a report on Thursday, June 5th. The Goldman Sachs Group downgraded Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, June 5th. Truist Financial increased their price objective on Dollar Tree from $109.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Barclays raised Dollar Tree from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $95.00 to $138.00 in a research note on Monday, July 21st. Seven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $102.68.

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.