Legacy Capital Wealth Partners LLC Acquires Shares of 2,554 Dollar Tree, Inc. (NASDAQ:DLTR)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,554 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TIAA Trust National Association raised its holdings in Dollar Tree by 14.9% in the second quarter. TIAA Trust National Association now owns 2,130 shares of the company’s stock worth $227,000 after purchasing an additional 276 shares in the last quarter. Resonant Capital Advisors LLC lifted its holdings in Dollar Tree by 7.7% in the second quarter. Resonant Capital Advisors LLC now owns 4,932 shares of the company’s stock valued at $527,000 after acquiring an additional 354 shares during the period. Natixis Advisors LLC lifted its holdings in Dollar Tree by 85.3% in the second quarter. Natixis Advisors LLC now owns 379,206 shares of the company’s stock valued at $40,488,000 after acquiring an additional 174,576 shares during the period. Equitable Trust Co. bought a new position in Dollar Tree in the second quarter valued at about $637,000. Finally, AM Squared Ltd bought a new position in shares of Dollar Tree in the second quarter worth about $171,000. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Trading Down 22.2 %

DLTR opened at $63.56 on Thursday. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of -13.85, a PEG ratio of 0.93 and a beta of 0.88. The company has a current ratio of 1.28, a quick ratio of 0.23 and a debt-to-equity ratio of 0.47. Dollar Tree, Inc. has a 12 month low of $60.81 and a 12 month high of $151.21. The stock has a fifty day moving average price of $99.39 and a 200-day moving average price of $116.02.

Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.38). Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Dollar Tree, Inc. will post 6.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on DLTR. Truist Financial decreased their price objective on Dollar Tree from $147.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Citigroup cut Dollar Tree from a “buy” rating to a “neutral” rating and cut their price target for the company from $163.00 to $120.00 in a report on Thursday, June 6th. Piper Sandler cut Dollar Tree from an “overweight” rating to a “neutral” rating and cut their price target for the company from $143.00 to $112.00 in a report on Tuesday, July 16th. UBS Group dropped their target price on Dollar Tree from $170.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. cut Dollar Tree from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $111.00 to $70.00 in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.22.

Insider Buying and Selling

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total transaction of $87,314.66. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $1,026,765.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.80% of the stock is owned by company insiders.

Dollar Tree Company Profile

Dollar Tree, Inc operates retail discount 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.