Smithbridge Asset Management Inc. DE Makes New $1.77 Million Investment in Dollar Tree, Inc. (NASDAQ:DLTR)

Smithbridge Asset Management Inc. DE purchased a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,602 shares of the company's stock, valued at approximately $1,772,000.

A number of other institutional investors have also recently added to or reduced their stakes in DLTR. Empower Advisory Group LLC grew its holdings in Dollar Tree by 15.3% during the 4th quarter. Empower Advisory Group LLC now owns 760,423 shares of the company's stock valued at $56,986,000 after purchasing an additional 100,676 shares in the last quarter. Pzena Investment Management LLC acquired a new position in Dollar Tree in the fourth quarter worth $520,000. Intrepid Capital Management Inc. boosted its holdings in Dollar Tree by 103.6% in the fourth quarter. Intrepid Capital Management Inc. now owns 27,026 shares of the company's stock worth $2,025,000 after purchasing an additional 13,751 shares during the period. Alberta Investment Management Corp boosted its holdings in Dollar Tree by 253.2% in the fourth quarter. Alberta Investment Management Corp now owns 93,600 shares of the company's stock worth $7,014,000 after purchasing an additional 67,100 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in Dollar Tree in the fourth quarter worth $14,089,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Insiders Place Their Bets

In related news, CAO Aditya Maheshwari sold 1,238 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $74.70, for a total value of $92,478.60. Following the transaction, the chief accounting officer now owns 4,231 shares in the company, valued at approximately $316,055.70. This represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William W. Douglas III bought 701 shares of Dollar Tree stock in a transaction on Wednesday, April 2nd. The stock was acquired at an average price of $75.00 per share, with a total value of $52,575.00. Following the completion of the purchase, the director now directly owns 1,377 shares of the company's stock, valued at approximately $103,275. The trade was a 103.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 22,441 shares of company stock worth $2,095,333. Corporate insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DLTR shares. Sanford C. Bernstein set a $82.00 price target on Dollar Tree and gave the stock a "market perform" rating in a report on Monday, May 5th. Piper Sandler raised their target price on Dollar Tree from $72.00 to $93.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. Guggenheim reissued a "buy" rating and set a $100.00 price target on shares of Dollar Tree in a report on Thursday, June 5th. The Goldman Sachs Group cut shares of Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, June 5th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $95.00 price objective on shares of Dollar Tree in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $90.26.

Dollar Tree Price Performance

NASDAQ:DLTR traded down $0.90 during mid-day trading on Friday, reaching $95.19. 2,999,460 shares of the stock were exchanged, compared to its average volume of 4,199,834. Dollar Tree, Inc. has a 1-year low of $60.49 and a 1-year high of $109.36. The company has a current ratio of 1.03, a quick ratio of 0.17 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $19.87 billion, a PE ratio of -19.96, a PEG ratio of 2.16 and a beta of 0.84. The business has a fifty day moving average price of $84.32 and a 200 day moving average price of $76.11.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported $1.26 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 analyst estimates of $4.52 billion. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The business's quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. Research analysts expect that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

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.