Dollar Tree (NASDAQ:DLTR) Hits New 1-Year High - What's Next?

Dollar Tree, Inc. (NASDAQ:DLTR - Get Free Report) shares reached a new 52-week high on Thursday . The stock 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

DLTR has been the subject of several research reports. JPMorgan Chase & Co. raised shares of Dollar Tree from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $111.00 in a report on Thursday, June 5th. Piper Sandler boosted their target price on shares of Dollar Tree from $72.00 to $93.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. Sanford C. Bernstein set a $82.00 target price on shares of Dollar Tree and gave the company a "market perform" rating in a research report on Monday, May 5th. Wells Fargo & Company set a $105.00 target price on shares of Dollar Tree and gave the company an "overweight" rating in a research report on Monday, June 2nd. Finally, The Goldman Sachs Group lowered shares of Dollar Tree from a "strong-buy" rating to a "strong sell" rating 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $90.37.

Dollar Tree Stock Up 3.5%

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 company has a market cap of $22.62 billion, a PE ratio of -7.82, a P/E/G ratio of 2.24 and a beta of 0.86. The company's 50 day moving average is $93.29 and its 200 day moving average is $79.89.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted 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. The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The company's revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. As a group, analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current fiscal year.

Dollar Tree announced that its board has approved a share repurchase program on Wednesday, July 9th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 11.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CMO Richard L. Mcneely sold 21,026 shares of Dollar Tree stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $94.62, for a total value of $1,989,480.12. Following the completion of the sale, the chief marketing officer directly owned 50,419 shares in the company, valued at $4,770,645.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Aditya Maheshwari sold 1,238 shares of Dollar Tree stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $74.70, for a total transaction of $92,478.60. Following the completion of the sale, the chief accounting officer owned 4,231 shares of the company's stock, 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 valued at $2,099,028 over the last quarter. 6.60% of the stock is owned by company insiders.

Institutional Trading of Dollar Tree

Several institutional investors and hedge funds have recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new stake in Dollar Tree during the 2nd quarter valued at approximately $565,000. Polianta Ltd purchased a new position in shares of Dollar Tree during the 2nd quarter valued at approximately $1,386,000. NorthCrest Asset Manangement LLC increased its holdings in shares of Dollar Tree by 18.7% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 6,279 shares of the company's stock valued at $640,000 after purchasing an additional 987 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Dollar Tree by 112.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,093 shares of the company's stock valued at $2,965,000 after purchasing an additional 15,369 shares in the last quarter. Finally, Wedmont Private Capital purchased a new position in shares of Dollar Tree during the 2nd quarter valued at approximately $280,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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