Meeder Advisory Services Inc. acquired a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 7,752 shares of the company’s stock, valued at approximately $892,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DLTR. Cullen Frost Bankers Inc. acquired a new stake in shares of Dollar Tree in the 4th quarter valued at $25,000. Reflection Asset Management bought a new position in shares of Dollar Tree in the 4th quarter valued at $25,000. Covestor Ltd raised its holdings in shares of Dollar Tree by 60.9% during the 4th quarter. Covestor Ltd now owns 222 shares of the company’s stock worth $27,000 after buying an additional 84 shares in the last quarter. Basecamp Wealth Advisors LLC raised its holdings in shares of Dollar Tree by 59.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 259 shares of the company’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Finally, Wilkerson Advisory Group LLC lifted its position in shares of Dollar Tree by 80.1% during the 1st quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock worth $29,000 after buying an additional 117 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.
Dollar Tree Price Performance
Dollar Tree stock opened at $131.84 on Thursday. The company has a current ratio of 1.16, a quick ratio of 0.39 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $25.34 billion, a PE ratio of 20.60, a P/E/G ratio of 1.49 and a beta of 0.64. Dollar Tree, Inc. has a 12 month low of $84.71 and a 12 month high of $142.40. The stock has a 50-day moving average price of $123.31 and a two-hundred day moving average price of $114.18.
Dollar Tree announced that its board has authorized a share buyback program on Thursday, July 2nd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. UBS Group reaffirmed a “buy” rating on shares of Dollar Tree in a research note on Monday. Gordon Haskett raised Dollar Tree from a “reduce” rating to a “hold” rating and set a $115.00 target price for the company in a research note on Thursday, June 4th. Wall Street Zen cut shares of Dollar Tree from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company raised their price target on shares of Dollar Tree from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday. Finally, BMO Capital Markets lifted their price target on shares of Dollar Tree from $90.00 to $98.00 and gave the company an “underperform” rating in a report on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Dollar Tree currently has an average rating of “Hold” and an average price target of $123.41.
Check Out Our Latest Analysis on Dollar Tree
About Dollar Tree
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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