Landscape Capital Management L.L.C. purchased a new position 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 & Exchange Commission. The institutional investor purchased 59,170 shares of the company’s stock, valued at approximately $6,811,000.
A number of other hedge funds have also recently added to or reduced their stakes in DLTR. Korea Investment CORP purchased a new stake in Dollar Tree in the 2nd quarter valued at approximately $15,573,000. EP Wealth Advisors LLC purchased a new position in shares of Dollar Tree during the 2nd quarter worth approximately $617,000. Ieq Capital LLC purchased a new position in shares of Dollar Tree during the 2nd quarter worth approximately $9,778,000. Callan Family Office LLC acquired a new stake in shares of Dollar Tree in the 2nd quarter valued at approximately $353,000. Finally, Blue Capital Inc. acquired a new stake in shares of Dollar Tree in the 2nd quarter valued at approximately $259,000. Institutional investors and hedge funds own 97.40% of the company’s stock.
Dollar Tree Stock Up 2.4%
Shares of NASDAQ DLTR opened at $131.48 on Friday. The firm’s 50-day moving average is $123.93 and its two-hundred day moving average is $114.37. The company has a market capitalization of $25.27 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.47 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 company has a debt-to-equity ratio of 0.84, a current ratio of 1.16 and a quick ratio of 0.39.
Dollar Tree announced that its board has approved a share repurchase plan on Thursday, July 2nd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Dollar Tree from $99.00 to $102.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. Bank of America reissued an “underperform” rating on shares of Dollar Tree in a report on Thursday, May 28th. Barclays lowered shares of Dollar Tree from an “overweight” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Wall Street Zen raised shares of Dollar Tree from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley lifted their price target on shares of Dollar Tree from $126.00 to $130.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $123.41.
Read Our Latest Report on DLTR
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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