Dollar Tree Inc. (NASDAQ:DLTR) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 7,650,917 shares, a decrease of 14.5% from the August 15th total of 8,952,873 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 3,829,002 shares, the short-interest ratio is presently 2.0 days.
A number of analysts have commented on the stock. Barclays PLC assumed coverage on shares of Dollar Tree in a report on Thursday. They set an “equal weight” rating for the company. Jefferies Group reissued a “hold” rating on shares of Dollar Tree in a research note on Monday, September 12th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $101.00 price objective on shares of Dollar Tree in a research note on Tuesday, September 6th. Morgan Stanley set a $90.00 price objective on shares of Dollar Tree and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $89.00 price objective (down from $100.00) on shares of Dollar Tree in a research note on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $95.10.
In other Dollar Tree news, insider Barry W. Sullivan sold 2,449 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $83.21, for a total transaction of $203,781.29. Following the completion of the sale, the insider now directly owns 8,904 shares of the company’s stock, valued at $740,901.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Conrad M. Hall bought 5,000 shares of Dollar Tree stock in a transaction on Monday, August 29th. The shares were acquired at an average cost of $85.60 per share, with a total value of $428,000.00. Following the completion of the acquisition, the director now owns 799 shares of the company’s stock, valued at approximately $68,394.40. The disclosure for this purchase can be found here. Corporate insiders own 4.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Dollar Tree by 1.2% in the first quarter. Legal & General Group Plc now owns 926,139 shares of the company’s stock worth $76,364,000 after buying an additional 11,054 shares during the last quarter. Grand Jean Capital Management Inc. acquired a new stake in Dollar Tree during the first quarter worth about $9,270,000. Banbury Partners LLC raised its stake in Dollar Tree by 12.1% in the first quarter. Banbury Partners LLC now owns 286,137 shares of the company’s stock worth $23,595,000 after buying an additional 30,937 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Dollar Tree by 13.7% in the second quarter. Eagle Asset Management Inc. now owns 179,582 shares of the company’s stock worth $16,923,000 after buying an additional 21,648 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Dollar Tree by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 511,774 shares of the company’s stock worth $48,070,000 after buying an additional 24,085 shares during the last quarter. 94.37% of the stock is owned by institutional investors and hedge funds.
Dollar Tree (NASDAQ:DLTR) opened at 80.07 on Friday. Dollar Tree has a 1-year low of $60.31 and a 1-year high of $99.93. The company has a 50-day moving average of $88.21 and a 200 day moving average of $86.67. The stock has a market cap of $18.88 billion, a P/E ratio of 26.57 and a beta of 0.43.
Dollar Tree (NASDAQ:DLTR) last released its earnings results on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.01. Dollar Tree had a return on equity of 16.29% and a net margin of 3.50%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the company earned $0.67 EPS. Dollar Tree’s quarterly revenue was up 66.0% compared to the same quarter last year. Analysts predict that Dollar Tree will post $3.78 EPS for the current year.
About Dollar Tree
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
Receive News & Ratings for Dollar Tree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dollar Tree Inc. and related companies with MarketBeat.com's FREE daily email newsletter.