Allstate Corp has acquired a new stake in Dollar Tree, Inc. (NASDAQ: DLTR), as detailed in its latest Form 13F filing with the Securities and Exchange Commission. During the third quarter, Allstate purchased 7,530 shares valued at approximately $711,000. This investment comes as part of a broader trend, with several hedge funds actively buying and selling shares of the discount retailer.
CFC Planning Co LLC also made a notable move by acquiring a new stake in Dollar Tree, estimated at around $525,000. Sequoia Financial Advisors LLC increased its holdings in Dollar Tree by 35.4%, now owning a total of 7,851 shares worth $741,000 after purchasing an additional 2,052 shares. Similarly, QRG Capital Management Inc. raised its stake by 54.1%, bringing its total ownership to 4,154 shares valued at $392,000 following the acquisition of 1,459 shares. Ritholtz Wealth Management also boosted its position in the company by 27.2%, now holding 4,657 shares worth approximately $439,000 after buying an additional 995 shares. Furthermore, Campbell & CO Investment Adviser LLC purchased a new stake valued at around $1.34 million. Overall, institutional investors and hedge funds control 97.40% of Dollar Tree’s stock.
Recent Insider Activity and Stock Performance
In related developments, insider Brent A. Beebe sold 2,200 shares of Dollar Tree on December 8, 2023, at an average price of $124.65, totaling $274,230. Following this transaction, Beebe’s ownership decreased by 13.80%, leaving him with 13,740 shares valued at approximately $1.71 million. Currently, insiders hold 6.60% of the company’s total stock.
As of December 8, 2023, Dollar Tree shares opened at $126.83, with a market capitalization of $25.22 billion. The company boasts a debt-to-equity ratio of 0.70, a current ratio of 0.96, and a quick ratio of 0.22. Its 50-day simple moving average stands at $122.09, while the 200-day average is $110.27. Over the past year, Dollar Tree has experienced a low of $61.80 and a high of $142.40.
Dollar Tree recently announced its quarterly earnings results on December 3, 2023, reporting earnings of $1.21 per share, exceeding the consensus estimate of $1.09 by $0.12. The company achieved revenues of $4.75 billion for the quarter, surpassing the anticipated $4.70 billion and reflecting a year-over-year revenue growth of 9.4%. For the upcoming fourth quarter of 2025, Dollar Tree has set guidance for earnings per share between $2.40 and $2.60.
Analyst Ratings and Market Outlook
Several analysts have recently evaluated Dollar Tree’s stock. Citigroup increased its price target from $124.00 to $132.00, rating the shares as a “buy” on December 4, 2023. Deutsche Bank Aktiengesellschaft maintained a “hold” rating with a target price of $126.00. Piper Sandler reaffirmed a “neutral” rating, raising its price target from $108.00 to $114.00. On the other hand, Bank of America lowered its price objective from $75.00 to $85.00, rating the stock as “underperform.” Barclays set a more optimistic price target of $149.00 and rated the stock as “overweight.”
Overall, eight research analysts have given Dollar Tree a Buy rating, nine maintain a Hold rating, and seven have issued a Sell rating. According to MarketBeat.com, the current consensus rating for Dollar Tree is “Hold,” with a price target of $120.10.
Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree operates as a leading discount retailer in North America. The company’s diverse range of products includes household essentials, food, health and beauty items, and seasonal goods, all offered at low price points. Its merchandising strategy focuses on appealing to budget-conscious consumers through high-turnover branded and private-label merchandise.
