CIBC Asset Management Inc Purchases 2,439 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

CIBC Asset Management Inc lifted its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,289 shares of the company’s stock after purchasing an additional 2,439 shares during the quarter. CIBC Asset Management Inc’s holdings in Dollar Tree were worth $4,591,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC increased its holdings in shares of Dollar Tree by 4.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 1,985 shares of the company’s stock worth $264,000 after purchasing an additional 93 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Dollar Tree by 29.3% during the first quarter. EverSource Wealth Advisors LLC now owns 486 shares of the company’s stock worth $65,000 after purchasing an additional 110 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of Dollar Tree by 2.1% during the second quarter. Valeo Financial Advisors LLC now owns 5,650 shares of the company’s stock worth $603,000 after purchasing an additional 116 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Dollar Tree by 2.5% during the second quarter. Raymond James Trust N.A. now owns 4,996 shares of the company’s stock worth $533,000 after purchasing an additional 124 shares during the period. Finally, Burney Co. lifted its holdings in Dollar Tree by 1.4% in the first quarter. Burney Co. now owns 9,598 shares of the company’s stock worth $1,278,000 after buying an additional 131 shares during the period. Institutional investors own 97.40% of the company’s stock.

Insider Buying and Selling at Dollar Tree

In related news, Director Daniel J. Heinrich acquired 2,200 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $68.27 per share, with a total value of $150,194.00. Following the transaction, the director now directly owns 9,823 shares in the company, valued at approximately $670,616.21. This represents a 28.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of Dollar Tree from $112.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. UBS Group reduced their price target on shares of Dollar Tree from $155.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Citigroup cut their target price on shares of Dollar Tree from $120.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Truist Financial cut their target price on shares of Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, Melius Research assumed coverage on shares of Dollar Tree in a research note on Monday, September 23rd. They set a “hold” rating and a $70.00 price target on the stock. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $88.11.

Dollar Tree Stock Performance

Shares of NASDAQ:DLTR opened at $64.20 on Monday. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of -13.16, a PEG ratio of 2.71 and a beta of 0.87. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $151.21. The firm’s 50-day moving average is $67.95 and its 200 day moving average is $91.99. The company has a current ratio of 1.02, a quick ratio of 0.17 and a debt-to-equity ratio of 0.33.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 earnings per share. Research analysts predict that Dollar Tree, Inc. will post 5.35 EPS for the current 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.