Dollar Tree, Inc. (NASDAQ:DLTR) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP boosted its position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,663 shares of the company's stock after buying an additional 75,322 shares during the quarter. Dollar Tree accounts for approximately 0.9% of Readystate Asset Management LP's holdings, making the stock its 20th biggest holding. Readystate Asset Management LP owned about 0.17% of Dollar Tree worth $27,375,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in shares of Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after purchasing an additional 346 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Dollar Tree in the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Dollar Tree in the 4th quarter worth about $43,000. CX Institutional bought a new stake in shares of Dollar Tree in the 1st quarter worth about $43,000. Finally, Sentry Investment Management LLC bought a new stake in shares of Dollar Tree in the 1st quarter worth about $48,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Insider Activity

In other news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $94.62, for a total value of $1,989,480.12. Following the completion of the transaction, the chief marketing officer directly owned 50,419 shares in the company, valued at $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $100.00 target price on shares of Dollar Tree in a research report on Thursday, June 5th. Citigroup raised shares of Dollar Tree from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $76.00 to $103.00 in a research report on Monday, April 7th. Piper Sandler boosted their target price on shares of Dollar Tree from $72.00 to $93.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Telsey Advisory Group reissued a "market perform" rating and issued a $95.00 target price on shares of Dollar Tree in a research report on Wednesday, June 4th. Finally, Cfra Research raised shares of Dollar Tree to a "hold" rating in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $97.74.

Dollar Tree Stock Performance

NASDAQ DLTR traded up $0.20 on Friday, hitting $114.41. The stock had a trading volume of 1,903,881 shares, compared to its average volume of 4,256,018. The company's 50-day moving average is $98.85 and its two-hundred day moving average is $82.58. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. The stock has a market cap of $23.88 billion, a price-to-earnings ratio of -8.25, a P/E/G ratio of 2.46 and a beta of 0.86. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $115.99.

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

Dollar Tree announced that its board 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 purchase up to 11.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

About Dollar Tree

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.