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Poplar Forest Capital LLC Lowers Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Dollar Tree logo with Retail/Wholesale background

Poplar Forest Capital LLC cut its stake in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,525 shares of the company's stock after selling 4,091 shares during the quarter. Dollar Tree accounts for about 2.3% of Poplar Forest Capital LLC's portfolio, making the stock its 22nd biggest position. Poplar Forest Capital LLC owned approximately 0.08% of Dollar Tree worth $12,726,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Dollar Tree by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 23,450,228 shares of the company's stock worth $1,757,360,000 after acquiring an additional 163,368 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Dollar Tree by 5.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,920,748 shares of the company's stock worth $743,461,000 after acquiring an additional 533,920 shares during the period. Capital International Investors boosted its holdings in shares of Dollar Tree by 30.1% in the fourth quarter. Capital International Investors now owns 8,753,693 shares of the company's stock worth $656,000,000 after acquiring an additional 2,023,819 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in shares of Dollar Tree by 14.4% in the fourth quarter. EdgePoint Investment Group Inc. now owns 7,940,163 shares of the company's stock worth $595,036,000 after acquiring an additional 1,000,637 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of Dollar Tree by 382.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company's stock worth $488,974,000 after acquiring an additional 5,173,238 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Richard L. Mcneely sold 21,026 shares of the firm's stock in a transaction that occurred 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 transaction, the chief marketing officer directly owned 50,419 shares of the company's stock, valued at approximately $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.60% of the stock is owned by company insiders.

Dollar Tree Price Performance

Shares of DLTR opened at $114.77 on Wednesday. The firm has a market cap of $23.95 billion, a PE ratio of -8.28, a P/E/G ratio of 2.41 and a beta of 0.86. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $96.67 and a two-hundred day simple moving average of $81.59. Dollar Tree, Inc. has a 1-year low of $60.49 and a 1-year high of $115.37.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.21 by $0.05. The firm had revenue of $4.64 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 EPS. On average, equities analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DLTR shares. UBS Group raised their price target on Dollar Tree from $95.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Wells Fargo & Company lifted their price objective on Dollar Tree from $105.00 to $130.00 and gave the stock an "overweight" rating in a report on Tuesday. Citigroup upgraded Dollar Tree from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $76.00 to $103.00 in a report on Monday, April 7th. Truist Financial lifted their price objective on Dollar Tree from $89.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, Jefferies Financial Group began coverage on Dollar Tree in a report on Thursday, July 17th. They set a "hold" rating and a $106.00 price target on the stock. Two investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $97.74.

View Our Latest Stock Analysis on Dollar Tree

About Dollar Tree

(Free Report)

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.

Read More

Want to see what other hedge funds are holding DLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dollar Tree, Inc. (NASDAQ:DLTR - Free Report).

Institutional Ownership by Quarter for Dollar Tree (NASDAQ:DLTR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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