Belpointe Asset Management LLC Takes $815,000 Position in Dollar Tree, Inc. (NASDAQ:DLTR)

Belpointe Asset Management LLC purchased a new stake in Dollar Tree, Inc. (NASDAQ:DLTR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,629 shares of the company’s stock, valued at approximately $815,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital International Investors raised its stake in shares of Dollar Tree by 30.1% in the fourth quarter. Capital International Investors now owns 10,581,632 shares of the company’s stock worth $1,503,123,000 after acquiring an additional 2,445,827 shares during the last quarter. Norges Bank bought a new position in Dollar Tree in the 4th quarter worth approximately $333,373,000. FIL Ltd lifted its holdings in Dollar Tree by 96.0% during the 4th quarter. FIL Ltd now owns 3,197,638 shares of the company’s stock worth $454,224,000 after buying an additional 1,566,392 shares in the last quarter. National Bank of Canada FI boosted its position in Dollar Tree by 223.4% in the 1st quarter. National Bank of Canada FI now owns 1,414,788 shares of the company’s stock valued at $188,379,000 after buying an additional 977,313 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in shares of Dollar Tree in the 1st quarter valued at $99,862,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Aflatooni sold 827 shares of the company’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 completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.80% of the company’s stock.

Dollar Tree Price Performance

Shares of DLTR opened at $68.47 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.23 and a current ratio of 1.28. The firm has a market capitalization of $14.72 billion, a PE ratio of -14.92, a P/E/G ratio of 0.93 and a beta of 0.87. The stock has a 50 day simple moving average of $98.65 and a 200 day simple moving average of $115.69. Dollar Tree, Inc. has a 52-week low of $60.81 and a 52-week high of $151.21.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same quarter last year, the company earned $0.91 EPS. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts predict that Dollar Tree, Inc. will post 6.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DLTR shares. Citigroup cut their price target on Dollar Tree from $120.00 to $64.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Dollar Tree from an “overweight” rating to a “neutral” rating and cut their target price for the company from $111.00 to $70.00 in a research report on Wednesday. Wells Fargo & Company lowered their price target on shares of Dollar Tree from $130.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. Loop Capital downgraded shares of Dollar Tree from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Thursday. Finally, Piper Sandler reduced their price objective on shares of Dollar Tree from $112.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $97.63.

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.