Dollar Tree (NASDAQ:DLTR) Reaches New 52-Week High - What's Next?

Dollar Tree, Inc. (NASDAQ:DLTR - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $108.95 and last traded at $108.74, with a volume of 1449833 shares changing hands. The stock had previously closed at $104.75.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DLTR shares. Bank of America decreased their target price on Dollar Tree from $75.00 to $70.00 and set an "underperform" rating for the company in a research report on Tuesday, April 8th. Piper Sandler upped their target price on Dollar Tree from $72.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. Cfra Research raised Dollar Tree to a "hold" rating in a research report on Wednesday, May 28th. Telsey Advisory Group reissued a "market perform" rating and issued a $95.00 target price on shares of Dollar Tree in a research report on Wednesday, June 4th. Finally, BMO Capital Markets upped their target price on Dollar Tree from $80.00 to $85.00 and gave the company a "market perform" rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Dollar Tree currently has an average rating of "Hold" and a consensus price target of $90.37.

Dollar Tree Trading Up 0.3%

The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $93.83 and a 200 day simple moving average of $80.13. The company has a market cap of $22.68 billion, a price-to-earnings ratio of -7.85, a P/E/G ratio of 2.25 and a beta of 0.86.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.05. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.52 billion. During the same quarter last year, the company earned $1.43 earnings per share. Dollar Tree's quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree declared that its Board of Directors has authorized a share repurchase plan on Wednesday, July 9th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to reacquire up to 11.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CMO Richard L. Mcneely sold 21,026 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $94.62, for a total value of $1,989,480.12. Following the completion of the transaction, the chief marketing officer owned 50,419 shares in the company, valued at $4,770,645.78. This trade represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Aditya Maheshwari sold 1,238 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $74.70, for a total value of $92,478.60. Following the completion of the transaction, the chief accounting officer owned 4,231 shares of the company's stock, valued at approximately $316,055.70. This represents a 22.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,439 shares of company stock valued at $2,099,028. Company insiders own 6.60% of the company's stock.

Institutional Trading of Dollar Tree

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its position in Dollar Tree by 57.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 765,376 shares of the company's stock worth $75,803,000 after purchasing an additional 278,658 shares in the last quarter. IFM Investors Pty Ltd increased its position in Dollar Tree by 7.5% during the 2nd quarter. IFM Investors Pty Ltd now owns 38,021 shares of the company's stock worth $3,766,000 after purchasing an additional 2,666 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in Dollar Tree during the 2nd quarter worth about $565,000. Polianta Ltd purchased a new stake in Dollar Tree during the 2nd quarter worth about $1,386,000. Finally, NorthCrest Asset Manangement LLC boosted its stake in Dollar Tree by 18.7% in the 2nd quarter. NorthCrest Asset Manangement LLC now owns 6,279 shares of the company's stock worth $640,000 after buying an additional 987 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Dollar Tree Company Profile

Dollar Tree, Inc operates retail discount stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.