State of New Jersey Common Pension Fund D Has $5.41 Million Stock Position in Dollar Tree, Inc. $DLTR

Key Points

• The State of New Jersey Common Pension Fund D has reduced its holdings in Dollar Tree, Inc. by 6.1% in the first quarter, bringing their total shares to 72,081, valued at $5,411,000.
• Dollar Tree recently announced a $2.50 billion stock repurchase program, allowing the company to buy back up to 11.5% of its shares, indicating confidence in the stock's undervaluation.
• Analysts' opinions on Dollar Tree stock vary, with Goldman Sachs downgrading it to a "strong sell" while Barclays upgraded it to "overweight" with a price target increase to $138.00.

State of New Jersey Common Pension Fund D decreased its position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,081 shares of the company's stock after selling 4,649 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Dollar Tree were worth $5,411,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of Dollar Tree by 382.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company's stock valued at $488,974,000 after purchasing an additional 5,173,238 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Dollar Tree by 2,489.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,621,456 shares of the company's stock worth $196,452,000 after purchasing an additional 2,520,237 shares during the last quarter. Corvex Management LP increased its position in Dollar Tree by 155.2% in the 4th quarter. Corvex Management LP now owns 2,886,735 shares of the company's stock worth $216,332,000 after purchasing an additional 1,755,761 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in Dollar Tree by 14.4% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,940,163 shares of the company's stock worth $595,036,000 after purchasing an additional 1,000,637 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Dollar Tree by 5,400.7% during the 1st quarter. Federated Hermes Inc. now owns 742,876 shares of the company's stock worth $55,768,000 after acquiring an additional 729,371 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Insider Activity

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of Dollar Tree stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $94.62, for a total value of $1,989,480.12. Following the sale, the chief marketing officer owned 50,419 shares of the company's stock, valued at $4,770,645.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DLTR has been the subject of several recent analyst reports. Piper Sandler upped their price target on Dollar Tree from $93.00 to $112.00 and gave the stock a "neutral" rating in a research note on Tuesday. Barclays raised Dollar Tree from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $95.00 to $138.00 in a report on Monday, July 21st. Morgan Stanley raised their price target on Dollar Tree from $80.00 to $96.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. Jefferies Financial Group assumed coverage on Dollar Tree in a report on Thursday, July 17th. They set a "hold" rating and a $106.00 price target for the company. Finally, The Goldman Sachs Group cut Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, June 5th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $100.89.

Dollar Tree Trading Up 0.6%

DLTR stock traded up $0.73 during midday trading on Friday, hitting $113.32. 2,223,637 shares of the company's stock were exchanged, compared to its average volume of 2,995,577. The stock's fifty day moving average price is $108.53 and its 200-day moving average price is $88.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. The company has a market cap of $23.65 billion, a PE ratio of -8.18, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $118.06.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.05. The firm had revenue of $4.64 billion for 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%.The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. Dollar Tree has set its FY 2025 guidance at 5.150-5.650 EPS. Research analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree announced that its board has initiated a stock buyback plan on Wednesday, July 9th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Dollar Tree 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.