New Wave Wealth Advisors LLC Takes $222,000 Position in Dollar Tree, Inc. (NASDAQ:DLTR)

New Wave Wealth Advisors LLC acquired a new stake in shares of Dollar Tree, Inc. (NASDAQ:DLTR) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 2,077 shares of the company’s stock, valued at approximately $222,000.

A number of other large investors have also recently made changes to their positions in the stock. ICA Group Wealth Management LLC purchased a new position in Dollar Tree in the 4th quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new position in shares of Dollar Tree during the 2nd quarter valued at approximately $26,000. Register Financial Advisors LLC bought a new position in shares of Dollar Tree during the 1st quarter valued at approximately $28,000. Mather Group LLC. increased its position in shares of Dollar Tree by 198.9% during the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock valued at $30,000 after purchasing an additional 187 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Dollar Tree during the 2nd quarter valued at $37,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dollar Tree

In other news, Director Daniel J. Heinrich bought 2,200 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $68.27 per share, with a total value of $150,194.00. Following the transaction, the director now owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Truist Financial dropped their price objective on Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a report on Thursday, September 5th. BMO Capital Markets cut Dollar Tree from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $130.00 to $68.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. cut Dollar Tree from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $111.00 to $70.00 in a research note on Wednesday, September 4th. Citigroup reduced their target price on Dollar Tree from $120.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group cut their price objective on Dollar Tree from $145.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Dollar Tree currently has an average rating of “Hold” and a consensus price target of $91.40.

Dollar Tree Stock Performance

NASDAQ DLTR opened at $70.44 on Wednesday. Dollar Tree, Inc. has a 1-year low of $60.81 and a 1-year high of $151.21. The company has a market capitalization of $15.14 billion, a P/E ratio of -15.35, a PEG ratio of 3.04 and a beta of 0.87. The business has a 50 day moving average price of $85.90 and a 200 day moving average price of $105.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.17.

Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. Dollar Tree’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. Sell-side analysts expect that Dollar Tree, Inc. will post 5.33 EPS for the current fiscal year.

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.