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

Key Points

• TD Asset Management Inc increased its holdings in Dollar Tree, Inc. by 2.1%, owning approximately $63.88 million worth of stock as of the latest SEC filing.
• A significant portion of Dollar Tree's stock is held by institutional investors and hedge funds, with these entities owning over 97.40% of the company's shares.
• Dollar Tree recently authorized a $2.50 billion stock repurchase program, indicating a belief that its shares may be undervalued.

TD Asset Management Inc grew its holdings in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 850,935 shares of the company's stock after purchasing an additional 17,754 shares during the quarter. TD Asset Management Inc owned approximately 0.40% of Dollar Tree worth $63,880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in Dollar Tree by 34,600.0% during the fourth quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after purchasing an additional 346 shares during the period. Hurley Capital LLC acquired a new position in shares of Dollar Tree during the fourth quarter worth about $33,000. CX Institutional acquired a new position in shares of Dollar Tree during the first quarter worth about $43,000. Sentry Investment Management LLC acquired a new position in shares of Dollar Tree during the first quarter worth about $48,000. Finally, GeoWealth Management LLC acquired a new position in shares of Dollar Tree during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler upped their price target on Dollar Tree from $72.00 to $93.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Evercore ISI upped their price target on Dollar Tree from $92.00 to $94.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. UBS Group increased their price objective on Dollar Tree from $95.00 to $108.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Truist Financial upped their target price on Dollar Tree from $89.00 to $100.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Finally, Barclays upgraded Dollar Tree from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $95.00 to $138.00 in a research report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Dollar Tree currently has a consensus rating of "Hold" and a consensus price target of $97.74.

Dollar Tree Stock Down 0.5%

Shares of NASDAQ:DLTR traded down $0.53 during mid-day trading on Thursday, hitting $113.62. 1,031,022 shares of the company traded hands, compared to its average volume of 4,215,041. 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 52-week low of $60.49 and a 52-week high of $115.99. The firm's 50 day simple moving average is $100.98 and its 200 day simple moving average is $83.73. The firm has a market cap of $23.71 billion, a P/E ratio of -8.21, a PEG ratio of 2.47 and a beta of 0.86.

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, topping the consensus estimate 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 company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $1.43 EPS. Dollar Tree's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate 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 repurchase program on Wednesday, July 9th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to buy up to 11.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Transactions at Dollar Tree

In other news, CMO Richard L. Mcneely sold 21,026 shares of Dollar Tree stock in a transaction that occurred on 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 completion of the transaction, the chief marketing officer owned 50,419 shares in the company, valued at approximately $4,770,645.78. This trade represents a 29.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.60% of the stock is owned by corporate insiders.

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.