Raymond James Financial Inc. Purchases 68,357 Shares of Dollar Tree, Inc. $DLTR

Key Points

• Raymond James Financial Inc. increased its stake in Dollar Tree by 20.6%, acquiring an additional 68,357 shares, bringing their total holdings to 400,918 shares valued at approximately $30 million.
• Dollar Tree has announced a $2.5 billion share buyback plan, allowing the company to repurchase up to 11.5% of its stock, indicating confidence in its share valuation.
• Recent earnings showed Dollar Tree beating analyst estimates with an EPS of $1.26 and revenue of $4.64 billion, marking an 11.3% year-over-year increase in revenue.

Raymond James Financial Inc. increased its holdings in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 20.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 400,918 shares of the company's stock after buying an additional 68,357 shares during the period. Raymond James Financial Inc. owned 0.19% of Dollar Tree worth $30,096,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new position in Dollar Tree in the first quarter valued at $30,000. CX Institutional purchased a new stake in Dollar Tree during the first quarter valued at about $43,000. Sentry Investment Management LLC purchased a new stake in Dollar Tree in the first quarter worth about $48,000. MassMutual Private Wealth & Trust FSB grew its holdings in Dollar Tree by 121.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 974 shares of the company's stock worth $73,000 after purchasing an additional 534 shares during the period. Finally, IFP Advisors Inc grew its holdings in Dollar Tree by 70.6% in the first quarter. IFP Advisors Inc now owns 1,211 shares of the company's stock worth $91,000 after purchasing an additional 501 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Dollar Tree Price Performance

Shares of NASDAQ:DLTR traded down $3.60 on Friday, reaching $108.90. The company's stock had a trading volume of 1,665,648 shares, compared to its average volume of 4,060,314. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $118.06. The company has a market cap of $22.73 billion, a P/E ratio of -7.86, a PEG ratio of 2.40 and a beta of 0.88. The company has a 50-day simple moving average of $109.66 and a 200 day simple moving average of $89.70. 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 (NASDAQ:DLTR - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period last year, the company posted $1.43 EPS. The business's revenue was up 11.3% on a year-over-year basis. Dollar Tree has set its FY 2025 guidance at 5.150-5.650 EPS. As a group, equities research analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree declared that its Board of Directors has initiated a stock buyback program on Wednesday, July 9th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 11.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction dated 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 in the company, valued at $4,770,645.78. This represents a 29.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DLTR. Barclays upgraded shares of Dollar Tree from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $95.00 to $138.00 in a report on Monday, July 21st. Truist Financial upped their target price on shares of Dollar Tree from $109.00 to $127.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Wells Fargo & Company lifted their price target on shares of Dollar Tree from $105.00 to $130.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Morgan Stanley lifted their target price on shares of Dollar Tree from $80.00 to $96.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Finally, Telsey Advisory Group upgraded shares of Dollar Tree from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $100.00 to $130.00 in a research note on Friday. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $104.53.

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.