Dollar Tree (NASDAQ:DLTR) Hits New 12-Month High - Should You Buy?

Shares of Dollar Tree, Inc. (NASDAQ:DLTR - Get Free Report) hit a new 52-week high 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.

Wall Street Analyst Weigh In

DLTR has been the subject of a number of recent research reports. Guggenheim reiterated a "buy" rating and set a $100.00 price objective on shares of Dollar Tree in a research report on Thursday, June 5th. Telsey Advisory Group reiterated a "market perform" rating and set a $95.00 price objective on shares of Dollar Tree in a research report on Wednesday, June 4th. Bank of America dropped their price objective 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. BMO Capital Markets lifted their price objective on Dollar Tree from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday, June 5th. Finally, JPMorgan Chase & Co. upgraded Dollar Tree from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $72.00 to $111.00 in a research report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Dollar Tree presently has an average rating of "Hold" and a consensus target price of $90.37.

Dollar Tree Stock Up 0.9%

The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of -7.89, a price-to-earnings-growth ratio of 2.35 and a beta of 0.86. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average price of $94.33 and a two-hundred day moving average price of $80.43.

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

Dollar Tree declared that its board has authorized a stock repurchase plan on Wednesday, July 9th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, CMO Richard L. Mcneely sold 21,026 shares of Dollar Tree stock in a transaction dated 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 transaction, the chief marketing officer directly owned 50,419 shares of the company's stock, valued at $4,770,645.78. The trade was a 29.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Aditya Maheshwari sold 1,238 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $74.70, for a total value of $92,478.60. Following the transaction, the chief accounting officer directly owned 4,231 shares in the company, valued at $316,055.70. This trade represents a 22.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,439 shares of company stock worth $2,099,028 over the last ninety days. Corporate insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On Dollar Tree

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CX Institutional lifted its position in Dollar Tree by 364.9% during the 2nd quarter. CX Institutional now owns 2,673 shares of the company's stock worth $265,000 after acquiring an additional 2,098 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in Dollar Tree by 84.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,100 shares of the company's stock worth $1,246,000 after acquiring an additional 5,530 shares in the last quarter. UMB Bank n.a. lifted its position in Dollar Tree by 53.4% during the 2nd quarter. UMB Bank n.a. now owns 951 shares of the company's stock worth $94,000 after acquiring an additional 331 shares in the last quarter. Assenagon Asset Management S.A. lifted 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 acquiring an additional 278,658 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Dollar Tree by 7.5% in the 2nd quarter. IFM Investors Pty Ltd now owns 38,021 shares of the company's stock valued at $3,766,000 after purchasing an additional 2,666 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

About Dollar Tree

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.