SteelPeak Wealth LLC Has $2.80 Million Stock Position in Dollar Tree, Inc. $DLTR

Key Points

• SteelPeak Wealth LLC has reduced its holdings in Dollar Tree, Inc. by 16.4% to a total of 28,296 shares, valued at approximately $2.80 million.
• Dollar Tree reported $0.77 earnings per share for the last quarter, significantly exceeding analysts' expectations and marking a 12.3% increase in revenue year-over-year.
• The company has initiated a $2.50 billion stock buyback program, allowing it to repurchase up to 11.5% of its shares, indicating confidence in its stock valuation.

SteelPeak Wealth LLC cut its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 16.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,296 shares of the company's stock after selling 5,567 shares during the quarter. SteelPeak Wealth LLC's holdings in Dollar Tree were worth $2,802,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DLTR. Price T Rowe Associates Inc. MD boosted its position in Dollar Tree by 69.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,848,196 shares of the company's stock worth $439,025,000 after acquiring an additional 2,400,586 shares during the period. Alyeska Investment Group L.P. boosted its position in Dollar Tree by 1,055.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,322,189 shares of the company's stock worth $174,327,000 after acquiring an additional 2,121,149 shares during the period. EdgePoint Investment Group Inc. boosted its position in Dollar Tree by 21.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 9,641,507 shares of the company's stock worth $723,788,000 after acquiring an additional 1,701,344 shares during the period. Maverick Capital Ltd. acquired a new stake in Dollar Tree during the 1st quarter worth about $69,890,000. Finally, Alliancebernstein L.P. boosted its position in Dollar Tree by 155.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,353,050 shares of the company's stock worth $101,573,000 after acquiring an additional 822,694 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Dollar Tree Stock Down 3.0%

Shares of DLTR stock opened at $85.04 on Wednesday. The stock's 50 day simple moving average is $104.45 and its 200 day simple moving average is $95.09. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.27 and a current ratio of 1.04. Dollar Tree, Inc. has a twelve month low of $60.49 and a twelve month high of $118.06. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of -6.27, a PEG ratio of 1.59 and a beta of 0.85.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported $0.77 earnings per share for the quarter, beating 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 business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business earned $0.67 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. Dollar Tree has set its FY 2025 guidance at 5.320-5.720 EPS. As a group, research analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Dollar Tree declared that its Board of Directors has approved a stock 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 repurchase up to 11.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

DLTR has been the subject of a number of recent research reports. Evercore ISI cut their price target on Dollar Tree from $105.00 to $102.00 and set an "in-line" rating for the company in a research note on Tuesday. Truist Financial raised their price target on Dollar Tree from $127.00 to $129.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Bank of America raised their price target on Dollar Tree from $70.00 to $75.00 and gave the stock an "underperform" rating in a research note on Thursday, September 4th. Piper Sandler cut their price target on Dollar Tree from $112.00 to $108.00 and set a "neutral" rating for the company in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on Dollar Tree from $138.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $110.06.

Insider Buying and Selling at Dollar Tree

In other Dollar Tree news, Director Stephanie Stahl sold 1,185 shares of Dollar Tree stock in a transaction that occurred 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 transaction, the director directly owned 4,089 shares of the company's stock, valued at $410,208.48. The trade was a 22.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.60% of the company's stock.

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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