Balentine LLC Purchases 927 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Posted by on Apr 16th, 2023

Balentine LLC lifted its position in Dollar Tree, Inc. (NASDAQ:DLTR – Get Rating) by 35.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,535 shares of the company’s stock after buying an additional 927 shares during the period. Balentine LLC’s holdings in Dollar Tree were worth $500,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DLTR. American National Bank boosted its stake in Dollar Tree by 905.0% in the 4th quarter. American National Bank now owns 201 shares of the company’s stock worth $28,000 after purchasing an additional 181 shares during the period. Alpha Paradigm Partners LLC acquired a new position in Dollar Tree in the 3rd quarter worth $35,000. Fred Alger Management LLC acquired a new position in shares of Dollar Tree during the 3rd quarter worth about $37,000. CI Investments Inc. boosted its stake in shares of Dollar Tree by 933.3% during the 3rd quarter. CI Investments Inc. now owns 279 shares of the company’s stock worth $38,000 after buying an additional 252 shares during the last quarter. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of Dollar Tree during the 3rd quarter worth about $39,000. Institutional investors own 97.04% of the company’s stock.

Dollar Tree Stock Performance

NASDAQ DLTR opened at $147.90 on Friday. The firm’s fifty day moving average price is $144.98 and its two-hundred day moving average price is $146.90. Dollar Tree, Inc. has a fifty-two week low of $124.76 and a fifty-two week high of $177.19. The stock has a market cap of $32.72 billion, a PE ratio of 20.51, a PEG ratio of 2.13 and a beta of 0.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 1.51.

Dollar Tree (NASDAQ:DLTR – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.01. Dollar Tree had a net margin of 5.70% and a return on equity of 19.19%. The firm had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.61 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts expect that Dollar Tree, Inc. will post 6.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DLTR shares. Piper Sandler increased their price objective on shares of Dollar Tree from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 28th. Credit Suisse Group reiterated a “neutral” rating and issued a $150.00 target price on shares of Dollar Tree in a research note on Thursday, March 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $165.00 price target on shares of Dollar Tree in a report on Thursday, March 2nd. JPMorgan Chase & Co. cut shares of Dollar Tree from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Dollar Tree from $181.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, March 2nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $166.80.

Insider Buying and Selling

In other Dollar Tree news, CFO Jeffrey A. Davis bought 1,790 shares of the stock in a transaction that occurred on Monday, March 27th. The shares were bought at an average price of $139.06 per share, for a total transaction of $248,917.40. Following the acquisition, the chief financial officer now directly owns 15,006 shares of the company’s stock, valued at approximately $2,086,734.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Richard W. Dreiling acquired 7,100 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average price of $142.00 per share, for a total transaction of $1,008,200.00. Following the purchase, the chief executive officer now owns 7,118 shares in the company, valued at approximately $1,010,756. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeffrey A. Davis acquired 1,790 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was purchased at an average price of $139.06 per share, with a total value of $248,917.40. Following the purchase, the chief financial officer now owns 15,006 shares in the company, valued at approximately $2,086,734.36. The disclosure for this purchase can be found here. 5.80% of the stock is currently owned by company insiders.

Dollar Tree Company Profile

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Dollar Tree, Inc owns and operates discount variety stores offering merchandise at fixed prices. It operates through the Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and Canada.

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Institutional Ownership by Quarter for Dollar Tree (NASDAQ:DLTR)

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