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Dollar Tree (DLTR) Fell Following a Messy Earnings Report

Soumya Eswaran
·2-min read

Madison Investments, an investment advisor, released its “Madison Investors Fund” first-quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Class Y) returned 9.63% compared to a 10.56% return for the S&P 500 index. The business remains dedicated to its more than two-decades-old strategy of investing in long-term, competitively advantaged, expanding firms at acceptable valuations, even if market performance has been robust over the past year and valuations have generally returned to earlier highs. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Madison Investors Fund featured stocks like Dollar Tree, Inc. (NASDAQ:DLTR) in the first quarter 2024 investor letter. Headquartered in Chesapeake, Virginia, Dollar Tree, Inc. (NASDAQ:DLTR) operates retail discount stores, that runs Dollar Tree and Family Dollar segments. On April 17, 2024, Dollar Tree, Inc. (NASDAQ:DLTR) stock closed at $123.75 per share. One-month return of Dollar Tree, Inc. (NASDAQ:DLTR) was -2.72%, and its shares lost 17.42% of their value over the last 52 weeks. Dollar Tree, Inc. (NASDAQ:DLTR) has a market capitalization of $26.975 billion.

Madison Investors Fund stated the following regarding Dollar Tree, Inc. (NASDAQ:DLTR) in its first quarter 2024 investor letter:

"Dollar Tree, Inc. (NASDAQ:DLTR) underperformed in the quarter following a messy earnings report that showed inconsistent results at Family Dollar. Given it is still early in Family Dollar’s turnaround effort, we had been expecting the potential for choppy performance, and weren’t that surprised by the result. What we found more notable were the strong results from the Dollar Tree stores, as they are the primarily value driver for the overall company."

A shopper browsing through a discount retailers merchandise aisle filled with a wide variety of items.

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Dollar Tree, Inc. (NASDAQ:DLTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Dollar Tree, Inc. (NASDAQ:DLTR) was held by 39 hedge fund portfolios, compared to 38 in the previous quarter, according to our database.

We previously discussed Dollar Tree, Inc. (NASDAQ:DLTR) in another article, where we shared the list of best department store stocks to buy. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.