SteelPeak Wealth LLC Takes $2.54 Million Position in Dollar Tree, Inc. (NASDAQ:DLTR)

SteelPeak Wealth LLC purchased a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,863 shares of the company's stock, valued at approximately $2,542,000.

A number of other hedge funds also recently made changes to their positions in the business. Bessemer Group Inc. increased its stake in Dollar Tree by 34,600.0% during the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after acquiring an additional 346 shares during the period. Assetmark Inc. boosted its holdings in shares of Dollar Tree by 74.1% during the 4th quarter. Assetmark Inc. now owns 350 shares of the company's stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Dollar Tree during the 4th quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new position in Dollar Tree during the 4th quarter worth about $43,000. Finally, CX Institutional acquired a new position in Dollar Tree during the 1st quarter worth about $43,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Dollar Tree Price Performance

DLTR traded down $2.08 during trading on Tuesday, reaching $106.55. The stock had a trading volume of 2,684,862 shares, compared to its average volume of 4,226,682. The stock has a market cap of $22.24 billion, a PE ratio of -7.69, a PEG ratio of 2.35 and a beta of 0.86. 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, Inc. has a one year low of $60.49 and a one year high of $109.74. The business has a 50-day moving average of $94.83 and a 200-day moving average of $80.68.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.05. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. The firm had revenue of $4.64 billion for the quarter, compared to analysts' expectations of $4.52 billion. During the same period last year, the firm earned $1.43 earnings per share. The company's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree announced that its Board of Directors has approved a stock buyback program on Wednesday, July 9th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Dollar Tree

In other 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 completion of the sale, the chief marketing officer directly owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company's stock.

Analyst Ratings Changes

DLTR has been the topic of a number of recent analyst reports. Bank of America dropped their price objective on Dollar Tree from $75.00 to $70.00 and set an "underperform" rating on the stock in a research note on Tuesday, April 8th. UBS Group boosted their price objective on Dollar Tree from $95.00 to $108.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Wells Fargo & Company set a $105.00 target price on Dollar Tree and gave the company an "overweight" rating in a report on Monday, June 2nd. Loop Capital reaffirmed a "hold" rating on shares of Dollar Tree in a report on Thursday, March 27th. Finally, Morgan Stanley upped their price objective on Dollar Tree from $80.00 to $96.00 and gave the company an "equal weight" rating in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Dollar Tree currently has an average rating of "Hold" and a consensus price target of $90.37.

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.