Public Employees Retirement System of Ohio purchased a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,159 shares of the company’s stock, valued at approximately $7,276,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in DLTR. PenderFund Capital Management Ltd. acquired a new stake in shares of Dollar Tree in the 2nd quarter valued at approximately $2,254,000. Jacobs Equity LLC bought a new position in shares of Dollar Tree in the second quarter valued at $599,000. Redwood Investment Management LLC acquired a new position in Dollar Tree during the second quarter worth $1,165,000. Proficio Capital Partners LLC acquired a new position in Dollar Tree during the second quarter worth $313,000. Finally, Transamerica Financial Advisors LLC bought a new stake in Dollar Tree during the second quarter worth $196,000. Institutional investors own 97.40% of the company’s stock.
Dollar Tree Stock Performance
NASDAQ DLTR opened at $131.71 on Wednesday. The stock has a market cap of $24.71 billion, a PE ratio of 16.08, a P/E/G ratio of 1.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.39 and a current ratio of 1.13. The firm has a 50-day moving average of $126.65 and a 200-day moving average of $114.79. Dollar Tree, Inc. has a 52-week low of $84.71 and a 52-week high of $142.40.
Dollar Tree declared that its board has authorized a stock repurchase program on Thursday, July 2nd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
A number of brokerages have recently commented on DLTR. Evercore raised shares of Dollar Tree from a “hold” rating to an “outperform” rating in a research report on Wednesday, July 8th. Truist Financial raised their target price on shares of Dollar Tree from $136.00 to $138.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Piper Sandler lifted their price target on Dollar Tree from $114.00 to $121.00 and gave the stock a “neutral” rating in a report on Monday. Jefferies Financial Group raised Dollar Tree from a “moderate sell” rating to a “buy” rating in a research report on Wednesday, July 8th. Finally, UBS Group upped their price objective on Dollar Tree from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Friday. Ten research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $130.36.
Read Our Latest Stock Analysis on DLTR
Insider Activity at Dollar Tree
In other news, insider Robert Aflatooni sold 2,500 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $126.01, for a total transaction of $315,025.00. Following the transaction, the insider owned 24,820 shares in the company, valued at approximately $3,127,568.20. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.10% of the company’s stock.
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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