Perigon Wealth Management LLC Buys New Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Perigon Wealth Management LLC purchased a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,963 shares of the company's stock, valued at approximately $222,000.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. raised its stake in Dollar Tree by 510.1% in the first quarter. Bessemer Group Inc. now owns 2,117 shares of the company's stock worth $159,000 after buying an additional 1,770 shares in the last quarter. Wealthquest Corp bought a new position in shares of Dollar Tree during the first quarter valued at approximately $287,000. Mattern Capital Management LLC increased its position in shares of Dollar Tree by 17.8% during the first quarter. Mattern Capital Management LLC now owns 12,087 shares of the company's stock valued at $907,000 after acquiring an additional 1,824 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Dollar Tree during the first quarter valued at approximately $493,000. Finally, Kirr Marbach & Co. LLC IN increased its position in shares of Dollar Tree by 3.1% during the first quarter. Kirr Marbach & Co. LLC IN now owns 105,240 shares of the company's stock valued at $7,900,000 after acquiring an additional 3,188 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dollar Tree

In other news, CAO Aditya Maheshwari sold 1,238 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $74.70, for a total value of $92,478.60. Following the completion of the sale, the chief accounting officer owned 4,231 shares of the company's stock, valued at approximately $316,055.70. This represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Richard L. Mcneely sold 21,026 shares of the company's stock in a transaction that occurred 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 directly owned 50,419 shares of the company's stock, valued at $4,770,645.78. The trade was a 29.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,439 shares of company stock valued at $2,099,028 in the last ninety days. Corporate insiders own 6.60% of the company's stock.

Dollar Tree Trading Down 1.2%

Dollar Tree stock traded down $1.26 during trading hours on Friday, hitting $101.76. The company had a trading volume of 2,140,917 shares, compared to its average volume of 4,225,657. The firm has a market cap of $21.24 billion, a P/E ratio of -7.34, a P/E/G ratio of 2.19 and a beta of 0.86. 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 1 year low of $60.49 and a 1 year high of $108.93. The company has a 50-day moving average price of $91.88 and a two-hundred day moving average price of $79.19.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last released its quarterly earnings data 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. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The company had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the previous year, the company earned $1.43 EPS. The firm's quarterly revenue was up 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

Analysts Set New Price Targets

DLTR has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Dollar Tree from $80.00 to $96.00 and gave the company an "equal weight" rating in a research report on Thursday, June 5th. Evercore ISI raised their target price on shares of Dollar Tree from $92.00 to $94.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. Citigroup upgraded shares of Dollar Tree from a "neutral" rating to a "buy" rating and raised their target price for the stock from $76.00 to $103.00 in a report on Monday, April 7th. Truist Financial raised their target price on shares of Dollar Tree from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Dollar Tree from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $72.00 to $111.00 in a report on Thursday, June 5th. 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $90.37.

Dollar Tree 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.