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

Topsail Wealth Management LLC bought a new position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,747 shares of the company's stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DLTR. Assetmark Inc. grew its position in shares of 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 buying an additional 149 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after purchasing an additional 346 shares in the last quarter. Hurley Capital LLC bought a new position in shares of Dollar Tree in the 4th quarter worth $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Dollar Tree in the 4th quarter worth $43,000. Finally, CX Institutional bought a new position in Dollar Tree during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Dollar Tree Trading Up 3.6%

DLTR stock traded up $3.79 during midday trading on Thursday, hitting $108.54. The company had a trading volume of 1,433,285 shares, compared to its average volume of 4,214,893. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $108.93. The stock's 50 day moving average price is $93.29 and its 200 day moving average price is $79.89. The stock has a market cap of $22.65 billion, a price-to-earnings ratio of -7.84, a PEG ratio of 2.24 and a beta of 0.86.

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

Dollar Tree announced that its board has approved a stock repurchase plan on Wednesday, July 9th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 11.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Dollar Tree

In related news, CMO Richard L. Mcneely sold 21,026 shares of the company's stock in a transaction 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 sale, the chief marketing officer directly owned 50,419 shares of the company's stock, valued at $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Aditya Maheshwari sold 1,238 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $74.70, for a total value of $92,478.60. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,439 shares of company stock worth $2,099,028. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley raised 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. Bank of America decreased their price objective on Dollar Tree from $75.00 to $70.00 and set an "underperform" rating for the company in a report on Tuesday, April 8th. JPMorgan Chase & Co. raised Dollar Tree from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $72.00 to $111.00 in a report on Thursday, June 5th. Loop Capital reaffirmed a "hold" rating on shares of Dollar Tree in a report on Thursday, March 27th. Finally, The Goldman Sachs Group downgraded Dollar Tree from a "strong-buy" rating to a "strong sell" rating in a research report 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.