Here’s Why Madison Funds is Excited about Dollar Tree (DLTR)

Madison Funds, managed by Madison Asset Management, LLC, released its “Madison Investors Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. During the quarter, the fund (Class Y) declined 11.8% compared to a return of -16.1% for the S&P 500 Index. The information technology sector is the fund’s leading quarterly performance contributor. In addition, you can check the top 5 holdings of the fund to learn about its best picks in 2022.

Madison Funds discussed stocks like Dollar Tree, Inc. (NASDAQ:DLTR) in the second quarter investor letter. Headquartered in Chesapeake, Virginia, Dollar Tree, Inc. (NASDAQ:DLTR) is a discount variety retail store. On September 21, 2022, Dollar Tree, Inc. (NASDAQ:DLTR) stock closed at $141.87 per share. One-month return of Dollar Tree, Inc. (NASDAQ:DLTR) was -14.53% and its shares gained 66.42% of their value over the last 52 weeks. Dollar Tree, Inc. (NASDAQ:DLTR) has a market capitalization of $31.77 billion.

Here is what Madison Funds specifically said about Dollar Tree, Inc. (NASDAQ:DLTR) in its Q2 2022 investor letter:

Dollar Tree, Inc. (NASDAQ:DLTR) reported strong results on the heels of rolling out the $1.25 price point initiative at all Dollar Tree stores nationwide. Furthermore, they announced several executive leadership changes, undoubtedly catalyzed by new Executive Chairman Richard Dreiling. We remain encouraged by the progress to date and are excited to see what the new team can do at Dollar Tree over the coming years.”

Dollar Tree, Inc. (NASDAQ:DLTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Dollar Tree, Inc. (NASDAQ:DLTR) at the end of the first quarter which was 40 in the previous quarter.

We discussed Dollar Tree, Inc. (NASDAQ:DLTR) in another article and shared the list of top trending stocks. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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