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Dollar Tree Jumps on Report Activist Investor Has $1.8 Billion Stake

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By Dhirendra Tripathi

Investing.com – Dollar Tree (NASDAQ:DLTR) stock traded more than 6% higher in Monday’s premarket on a report in The Wall Street Journal that activist investor Mantle Ridge has a stake of at least $1.8 billion in the company and plans to push the retailer to act to boost its share price.

A stake the size of Mantle Ridge’s would amount to more than 5% of the company’s shares and make Mantle Ridge one of its top two investors, according to FactSet. Dollar Tree had a market cap of over $25 billion at the close on Friday.

The shares have gained 19% in a year against a jump of 31% in the S&P 500. The company’s margins have been under pressure as inflation took root, challenging its core model of stocking and selling most products under $1. It has had to shift more products to selling above that price.

Mantle Ridge could decide to nominate directors to the company’s board when the one-month window to do so opens November 24, the WSJ report said.

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