Zions Bancorporation National Association UT Purchases Shares of 395 Dollar Tree, Inc. (NASDAQ:DLTR)

Zions Bancorporation National Association UT acquired a new position in Dollar Tree, Inc. (NASDAQ:DLTR) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 395 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Dollar Tree in the 4th quarter worth approximately $24,922,000. Bessemer Group Inc. boosted its position in Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock valued at $26,000 after buying an additional 346 shares during the last quarter. Sterling Capital Management LLC boosted its position in Dollar Tree by 51.8% in the 4th quarter. Sterling Capital Management LLC now owns 12,231 shares of the company’s stock valued at $917,000 after buying an additional 4,174 shares during the last quarter. Townsquare Capital LLC boosted its position in Dollar Tree by 1.8% in the 4th quarter. Townsquare Capital LLC now owns 17,752 shares of the company’s stock valued at $1,330,000 after buying an additional 319 shares during the last quarter. Finally, Mariner LLC boosted its position in shares of Dollar Tree by 22.8% in the 4th quarter. Mariner LLC now owns 10,574 shares of the company’s stock worth $792,000 after purchasing an additional 1,960 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Dollar Tree from $105.00 to $130.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. lifted their price target on Dollar Tree from $111.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Telsey Advisory Group reissued a “market perform” rating and issued a $95.00 price target on shares of Dollar Tree in a research note on Wednesday, June 4th. Cfra Research raised Dollar Tree to a “hold” rating in a research report on Wednesday, May 28th. Finally, Piper Sandler boosted their price target on Dollar Tree from $72.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dollar Tree currently has an average rating of “Hold” and a consensus target price of $99.89.

Insider Activity

In other news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction 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 completion of the transaction, the chief marketing officer directly owned 50,419 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.60% of the company’s stock.

Dollar Tree Trading Up 1.2%

Shares of DLTR stock opened at $115.40 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The stock has a market cap of $24.08 billion, a P/E ratio of -8.33, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88. The stock has a 50 day simple moving average of $105.96 and a 200 day simple moving average of $86.75. Dollar Tree, Inc. has a 1 year low of $60.49 and a 1 year high of $118.06.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the business earned $1.43 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. On average, research analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

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

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.