Landscape Capital Management L.L.C. purchased a new stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 22,846 shares of the company’s stock, valued at approximately $2,763,000.
Other institutional investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in Dollar Tree by 0.4% in the 4th quarter. Cetera Investment Advisers now owns 21,420 shares of the company’s stock valued at $2,635,000 after buying an additional 79 shares in the last quarter. Optimize Financial Inc grew its stake in Dollar Tree by 1.4% in the fourth quarter. Optimize Financial Inc now owns 6,000 shares of the company’s stock valued at $738,000 after acquiring an additional 84 shares during the period. Covestor Ltd increased its holdings in shares of Dollar Tree by 60.9% during the fourth quarter. Covestor Ltd now owns 222 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. Root Financial Partners LLC increased its holdings in shares of Dollar Tree by 27.6% during the fourth quarter. Root Financial Partners LLC now owns 393 shares of the company’s stock valued at $48,000 after acquiring an additional 85 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Dollar Tree by 7.7% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,208 shares of the company’s stock worth $149,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.
Dollar Tree Stock Up 2.4%
Shares of NASDAQ:DLTR opened at $131.48 on Friday. The business’s 50 day moving average is $123.93 and its 200 day moving average is $114.37. Dollar Tree, Inc. has a 12-month low of $84.71 and a 12-month high of $142.40. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.47 and a beta of 0.64. The company has a quick ratio of 0.39, a current ratio of 1.16 and a debt-to-equity ratio of 0.84.
Dollar Tree announced that its Board of Directors has approved a stock buyback plan on Thursday, July 2nd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Dollar Tree from a “hold” rating to a “buy” rating in a report on Saturday. BMO Capital Markets upped their price objective on shares of Dollar Tree from $90.00 to $98.00 and gave the stock an “underperform” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price objective on shares of Dollar Tree from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday. Guggenheim lifted their price objective on shares of Dollar Tree from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Gordon Haskett raised shares of Dollar Tree from a “reduce” rating to a “hold” rating and set a $115.00 target price for the company in a research report on Thursday, June 4th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.41.
Get Our Latest Stock Analysis on DLTR
Dollar Tree Company Profile
Dollar Tree, Inc is a North American discount retailer that operates a portfolio of value-oriented store banners, primarily Dollar Tree and Family Dollar. The company’s stores offer a broad assortment of everyday items at low price points, including household essentials, food and snacks, health and beauty products, cleaning supplies, seasonal and party goods, home décor, and basic apparel. Dollar Tree’s merchandising strategy emphasizes high-turnover branded and private-label merchandise tailored to budget-conscious consumers, with Family Dollar complementing the chain by offering a wider range of price points and assortment depth in smaller-format neighborhood locations.
Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree has grown through both organic store openings and acquisitions.
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