Mackenzie Financial Corp Grows Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Mackenzie Financial Corp grew its stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) by 35.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 83,929 shares of the company’s stock after acquiring an additional 22,139 shares during the quarter. Mackenzie Financial Corp’s holdings in Dollar Tree were worth $6,301,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Private Trust Co. NA grew its position in shares of Dollar Tree by 11.6% in the first quarter. Private Trust Co. NA now owns 1,527 shares of the company’s stock valued at $115,000 after purchasing an additional 159 shares during the period. Amalgamated Bank grew its position in Dollar Tree by 0.7% during the first quarter. Amalgamated Bank now owns 39,283 shares of the company’s stock valued at $2,949,000 after acquiring an additional 265 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Dollar Tree by 6.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,656 shares of the company’s stock valued at $349,000 after acquiring an additional 292 shares during the period. Wahed Invest LLC grew its position in Dollar Tree by 6.1% during the fourth quarter. Wahed Invest LLC now owns 5,205 shares of the company’s stock valued at $390,000 after acquiring an additional 297 shares during the period. Finally, Kera Capital Partners Inc. grew its position in Dollar Tree by 10.5% during the first quarter. Kera Capital Partners Inc. now owns 3,352 shares of the company’s stock valued at $252,000 after acquiring an additional 318 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Trading Up 1.0%

Shares of NASDAQ DLTR opened at $114.72 on Friday. The stock’s 50 day moving average price is $101.98 and its two-hundred day moving average price is $84.33. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $115.99. The stock has a market capitalization of $23.94 billion, a P/E ratio of -8.28, a PEG ratio of 2.43 and a beta of 0.88. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Dollar Tree’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts anticipate 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 share repurchase program on Wednesday, July 9th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 11.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DLTR. 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. Truist Financial boosted their price target on Dollar Tree from $89.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, June 2nd. JPMorgan Chase & Co. upped their target price on Dollar Tree from $111.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Jefferies Financial Group began coverage on Dollar Tree in a research report on Thursday, July 17th. They issued a “hold” rating and a $106.00 target price for the company. Finally, Evercore ISI upped their target price on Dollar Tree from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Dollar Tree has an average rating of “Hold” and a consensus price target of $97.74.

Insider Transactions at Dollar Tree

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was 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 represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 6.60% of the stock is owned by insiders.

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.