Retirement Systems of Alabama Sells 5,981 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Posted by Defense World Staff on Jul 24th, 2023

Dollar Tree logo Retirement Systems of Alabama trimmed its stake in Dollar Tree, Inc. (NASDAQ:DLTR – Free Report) by 8.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,455 shares of the company’s stock after selling 5,981 shares during the period. Retirement Systems of Alabama’s holdings in Dollar Tree were worth $8,822,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Alliance grew its position in shares of Dollar Tree by 38.6% in the 4th quarter. Wealth Alliance now owns 4,114 shares of the company’s stock worth $582,000 after buying an additional 1,146 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Dollar Tree by 6.7% during the first quarter. Janney Montgomery Scott LLC now owns 41,337 shares of the company’s stock worth $5,934,000 after purchasing an additional 2,589 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Dollar Tree by 0.5% during the 4th quarter. Toronto Dominion Bank now owns 1,174,684 shares of the company’s stock valued at $166,047,000 after purchasing an additional 5,516 shares during the last quarter. Simplicity Solutions LLC boosted its position in shares of Dollar Tree by 71.4% in the 1st quarter. Simplicity Solutions LLC now owns 3,001 shares of the company’s stock worth $431,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Dollar Tree by 10.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 33,795 shares of the company’s stock worth $4,780,000 after buying an additional 3,334 shares during the last quarter. 99.78% of the stock is currently owned by hedge funds and other institutional investors.

Dollar Tree Stock Performance

DLTR opened at $151.57 on Monday. The firm has a fifty day moving average price of $144.22 and a 200 day moving average price of $146.31. Dollar Tree, Inc. has a 1 year low of $128.85 and a 1 year high of $175.68. The stock has a market cap of $33.40 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.35 and a beta of 0.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.51 and a quick ratio of 0.28.

Dollar Tree (NASDAQ:DLTR – Get Free Report) last issued its quarterly earnings data on Thursday, May 25th. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07). Dollar Tree had a return on equity of 16.36% and a net margin of 4.79%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the company posted $2.37 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Dollar Tree, Inc. will post 6.01 earnings per share for the current year.

Insider Activity

In related news, insider Jennifer Hulett sold 1,484 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $143.61, for a total value of $213,117.24. Following the completion of the sale, the insider now owns 6,825 shares of the company’s stock, valued at approximately $980,138.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

DLTR has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Dollar Tree from $170.00 to $155.00 in a report on Friday, May 26th. UBS Group boosted their target price on shares of Dollar Tree from $165.00 to $175.00 in a research report on Thursday, June 22nd. Truist Financial decreased their price target on shares of Dollar Tree from $162.00 to $156.00 in a report on Friday, May 26th. Credit Suisse Group dropped their price objective on shares of Dollar Tree from $150.00 to $140.00 in a report on Friday, May 26th. Finally, Evercore ISI reduced their target price on Dollar Tree from $165.00 to $155.00 in a research note on Friday, May 26th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.93.

Dollar Tree Company Profile

(Free Report)

Dollar Tree, Inc operates discount variety retail 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.