Wealthfront Advisers LLC Makes New Investment in Dollar Tree, Inc. (NASDAQ:DLTR)

Wealthfront Advisers LLC acquired a new position in Dollar Tree, Inc. (NASDAQ:DLTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 117,974 shares of the company’s stock, valued at approximately $8,841,000.

A number of other hedge funds have also made changes to their positions in the company. Equity Investment Corp boosted its stake in shares of Dollar Tree by 95.9% during the third quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock valued at $107,264,000 after acquiring an additional 746,913 shares during the last quarter. State Street Corp lifted its stake in shares of Dollar Tree by 6.8% in the 3rd quarter. State Street Corp now owns 9,427,910 shares of the company’s stock valued at $662,971,000 after purchasing an additional 596,191 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Dollar Tree by 45.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,351,632 shares of the company’s stock valued at $95,994,000 after purchasing an additional 425,245 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Dollar Tree during the 4th quarter valued at about $24,922,000. Finally, Forest Avenue Capital Management LP purchased a new stake in shares of Dollar Tree during the 3rd quarter valued at about $19,591,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Dollar Tree Price Performance

Dollar Tree stock opened at $61.92 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The company has a market capitalization of $13.31 billion, a PE ratio of -12.98, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $137.14. The business has a 50 day simple moving average of $72.37 and a 200 day simple moving average of $71.23.

Analysts Set New Price Targets

DLTR has been the topic of several analyst reports. Evercore ISI dropped their price objective on Dollar Tree from $94.00 to $92.00 and set an “in-line” rating on the stock in a report on Tuesday, December 3rd. Truist Financial boosted their price target on Dollar Tree from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Jefferies Financial Group boosted their price objective on Dollar Tree from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Guggenheim dropped their price objective on Dollar Tree from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, December 6th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $72.00 target price (up from $67.00) on shares of Dollar Tree in a research report on Thursday, December 5th. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Dollar Tree presently has an average rating of “Hold” and an average target price of $84.79.

About Dollar Tree

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.