Public Employees Retirement System of Ohio Acquires 50,347 Shares of Dollar Tree, Inc. $DLTR

Key Points

• The Public Employees Retirement System of Ohio boosted its stake in Dollar Tree by 80.8% in the second quarter, acquiring an additional 50,347 shares and totaling 112,620 shares valued at approximately $11.15 million.
• Dollar Tree's recent earnings report revealed an earnings per share (EPS) of $0.77, surpassing analysts' expectations of $0.38, with revenue increasing by 12.3% year-over-year.
• Dollar Tree initiated a $2.50 billion share buyback program, aiming to repurchase up to 11.5% of its outstanding shares, indicating the board's belief in the stock's undervaluation.

Public Employees Retirement System of Ohio increased its holdings in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 80.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,620 shares of the company's stock after acquiring an additional 50,347 shares during the period. Public Employees Retirement System of Ohio owned about 0.05% of Dollar Tree worth $11,154,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Ballentine Partners LLC grew its holdings in shares of Dollar Tree by 28.8% in the second quarter. Ballentine Partners LLC now owns 3,890 shares of the company's stock valued at $385,000 after acquiring an additional 870 shares in the last quarter. Cigna Investments Inc. New bought a new position in Dollar Tree during the second quarter valued at $201,000. Fifth Third Bancorp grew its holdings in Dollar Tree by 12.7% during the second quarter. Fifth Third Bancorp now owns 11,471 shares of the company's stock valued at $1,136,000 after purchasing an additional 1,291 shares during the period. Forte Capital LLC ADV bought a new position in Dollar Tree during the second quarter valued at $367,000. Finally, GAMMA Investing LLC grew its holdings in Dollar Tree by 74.9% during the second quarter. GAMMA Investing LLC now owns 7,675 shares of the company's stock valued at $760,000 after purchasing an additional 3,286 shares during the period. 97.40% of the stock is owned by institutional investors.

Dollar Tree Price Performance

Dollar Tree stock opened at $95.06 on Friday. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $118.06. The business has a fifty day moving average price of $107.84 and a 200-day moving average price of $93.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 0.27. The firm has a market capitalization of $19.39 billion, a P/E ratio of -7.01, a PEG ratio of 1.71 and a beta of 0.89.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.39. Dollar Tree had a positive return on equity of 23.52% and a negative net margin of 13.46%.The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company earned $0.67 earnings per share. The business's revenue for the quarter was up 12.3% on a year-over-year basis. Dollar Tree has set its FY 2025 guidance at 5.320-5.720 EPS. As a group, equities research analysts forecast that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Dollar Tree announced that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In related news, Director Stephanie Stahl sold 1,185 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $100.32, for a total value of $118,879.20. Following the sale, the director owned 4,089 shares in the company, valued at approximately $410,208.48. This trade represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on DLTR shares. Jefferies Financial Group started coverage on Dollar Tree in a report on Thursday, July 17th. They set a "hold" rating and a $106.00 price objective for the company. Evercore ISI reduced their price objective on Dollar Tree from $108.00 to $105.00 and set an "in-line" rating for the company in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on Dollar Tree from $138.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Truist Financial increased their price objective on Dollar Tree from $127.00 to $129.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, Citigroup cut their price target on Dollar Tree from $130.00 to $124.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Dollar Tree has a consensus rating of "Hold" and an average target price of $111.29.

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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