Teacher Retirement System of Texas Acquires Shares of 29,866 Dollar Tree, Inc. (NASDAQ:DLTR)

Teacher Retirement System of Texas purchased a new position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 29,866 shares of the company's stock, valued at approximately $2,242,000.

Several other institutional investors also recently modified their holdings of the business. Private Trust Co. NA increased its stake in shares of Dollar Tree by 11.6% in the 1st quarter. Private Trust Co. NA now owns 1,527 shares of the company's stock worth $115,000 after acquiring an additional 159 shares in the last quarter. McGinn Penninger Investment Management Inc. increased its stake in shares of Dollar Tree by 13.2% in the 1st quarter. McGinn Penninger Investment Management Inc. now owns 68,585 shares of the company's stock worth $5,149,000 after acquiring an additional 8,015 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Dollar Tree by 26.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,829 shares of the company's stock worth $1,939,000 after acquiring an additional 5,328 shares in the last quarter. Cidel Asset Management Inc. bought a new position in shares of Dollar Tree in the 1st quarter worth about $202,000. Finally, Vontobel Holding Ltd. increased its stake in Dollar Tree by 31.7% during the 1st quarter. Vontobel Holding Ltd. now owns 12,344 shares of the company's stock valued at $927,000 after purchasing an additional 2,974 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Dollar Tree Stock Performance

Shares of DLTR traded up $3.62 on Thursday, reaching $108.37. The company's stock had a trading volume of 3,723,310 shares, compared to its average volume of 4,223,773. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72. The stock has a market capitalization of $22.62 billion, a P/E ratio of -7.82, a PEG ratio of 2.24 and a beta of 0.86. The stock's 50 day simple moving average is $93.29 and its two-hundred day simple moving average is $79.89. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $108.93.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.05. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The company's revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts forecast that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

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

Insider Activity 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 shares were sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the sale, the chief marketing officer owned 50,419 shares in the company, valued at $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Aditya Maheshwari sold 1,238 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $74.70, for a total transaction of $92,478.60. Following the completion of the sale, the chief accounting officer owned 4,231 shares in the company, valued at $316,055.70. This represents a 22.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,439 shares of company stock worth $2,099,028. Company insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Telsey Advisory Group restated a "market perform" rating and set a $95.00 price objective on shares of Dollar Tree in a research note on Wednesday, June 4th. Guggenheim restated a "buy" rating and set a $100.00 price objective on shares of Dollar Tree in a research note on Thursday, June 5th. JPMorgan Chase & Co. upgraded shares of Dollar Tree from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $111.00 in a research note on Thursday, June 5th. BMO Capital Markets raised their price objective on shares of Dollar Tree from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Thursday, June 5th. Finally, Truist Financial raised their price objective on shares of Dollar Tree from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Two 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 MarketBeat, the company presently has an average rating of "Hold" and an average target price of $90.37.

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.