Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,953 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,353 shares of the company’s stock after acquiring an additional 1,953 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dollar Tree were worth $3,330,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DLTR. Kovitz Investment Group Partners LLC raised its position in Dollar Tree by 382.7% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company’s stock worth $488,974,000 after purchasing an additional 5,173,238 shares during the last quarter. Marshall Wace LLP grew its holdings in Dollar Tree by 784.2% during the 4th quarter. Marshall Wace LLP now owns 4,377,366 shares of the company’s stock worth $328,040,000 after acquiring an additional 3,882,324 shares during the period. Balyasny Asset Management L.P. grew its holdings in Dollar Tree by 2,489.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,621,456 shares of the company’s stock worth $196,452,000 after acquiring an additional 2,520,237 shares during the period. Capital International Investors grew its holdings in shares of Dollar Tree by 30.1% in the 4th quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock valued at $656,000,000 after buying an additional 2,023,819 shares during the period. Finally, Corvex Management LP grew its holdings in shares of Dollar Tree by 155.2% in the 4th quarter. Corvex Management LP now owns 2,886,735 shares of the company’s stock valued at $216,332,000 after buying an additional 1,755,761 shares during the period. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Up 1.0%

Shares of DLTR stock opened at $114.72 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. The firm’s 50-day moving average is $101.98 and its 200-day moving average is $84.33. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of -8.28, a PEG ratio of 2.43 and a beta of 0.88. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $115.99.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly 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. 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 analyst estimates of $4.52 billion. During the same quarter in the prior year, the business earned $1.43 EPS. Dollar Tree’s quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current year.

Dollar Tree announced that its board has initiated a stock buyback program on Wednesday, July 9th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire 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 stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DLTR. Sanford C. Bernstein set a $82.00 price target on shares of Dollar Tree and gave the company a “market perform” rating in a report on Monday, May 5th. Piper Sandler boosted their price target on shares of Dollar Tree from $72.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. Guggenheim reissued a “buy” rating and issued a $100.00 price target on shares of Dollar Tree in a report on Thursday, June 5th. The Goldman Sachs Group lowered shares of Dollar Tree from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, June 5th. Finally, BMO Capital Markets boosted their price target on shares of Dollar Tree from $80.00 to $85.00 and gave the company a “market perform” rating in a report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $97.74.

Insider Activity

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.60% of the stock is currently owned by insiders.

Dollar Tree Company 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.