Topsail Wealth Management LLC Buys New Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

Topsail Wealth Management LLC bought a new position in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,747 shares of the company's stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in Dollar Tree by 74.1% in the 4th quarter. Assetmark Inc. now owns 350 shares of the company's stock valued at $26,000 after purchasing an additional 149 shares during the period. Private Trust Co. NA lifted its position in shares of Dollar Tree by 11.6% during the 1st quarter. Private Trust Co. NA now owns 1,527 shares of the company's stock worth $115,000 after buying an additional 159 shares during the last quarter. Amalgamated Bank lifted its position in shares of Dollar Tree by 0.7% during the 1st quarter. Amalgamated Bank now owns 39,283 shares of the company's stock worth $2,949,000 after buying an additional 265 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Dollar Tree by 6.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 4,656 shares of the company's stock worth $349,000 after buying an additional 292 shares during the last quarter. Finally, Wahed Invest LLC lifted its position in shares of Dollar Tree by 6.1% during the 4th quarter. Wahed Invest LLC now owns 5,205 shares of the company's stock worth $390,000 after buying an additional 297 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 of the company's stock, valued at approximately $4,770,645.78. The trade was a 29.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Aditya Maheshwari sold 1,238 shares of Dollar Tree stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $74.70, for a total transaction of $92,478.60. Following the sale, the chief accounting officer directly owned 4,231 shares in the company, valued at approximately $316,055.70. The trade was a 22.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,439 shares of company stock worth $2,099,028 over the last three months. Corporate insiders own 6.60% of the company's stock.

Dollar Tree Price Performance

Dollar Tree stock traded up $3.62 during midday trading on Thursday, reaching $108.37. The company had a trading volume of 3,723,310 shares, compared to its average volume of 4,226,812. The company has a market capitalization of $22.62 billion, a P/E ratio of -7.82, a P/E/G ratio of 2.25 and a beta of 0.86. Dollar Tree, Inc. has a 12-month low of $60.49 and a 12-month high of $108.93. The firm's fifty day simple moving average is $93.83 and its 200-day simple moving average is $80.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72.

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 analysts' consensus estimates 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 negative net margin of 12.15% and a positive return on equity of 19.36%. Dollar Tree's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.43 EPS. As a group, equities analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DLTR. Truist Financial increased their price target on Dollar Tree from $89.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, June 2nd. Citigroup upgraded Dollar Tree from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $76.00 to $103.00 in a report on Monday, April 7th. Loop Capital restated a "hold" rating on shares of Dollar Tree in a research note on Thursday, March 27th. JPMorgan Chase & Co. upgraded Dollar Tree from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $111.00 in a research note on Thursday, June 5th. Finally, Wells Fargo & Company set a $105.00 target price on Dollar Tree and gave the stock an "overweight" rating in a research note on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Dollar Tree has an average rating of "Hold" and a consensus price target 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.