Dollar Tree (NASDAQ:DLTR) Sets New 12-Month High - Here's Why

Dollar Tree, Inc. (NASDAQ:DLTR - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $115.42 and last traded at $114.92, with a volume of 2505567 shares traded. The stock had previously closed at $114.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DLTR shares. Evercore ISI increased their price target on Dollar Tree from $92.00 to $94.00 and gave the company an "in-line" rating in a research note on Tuesday, June 24th. Loop Capital reaffirmed a "hold" rating on shares of Dollar Tree in a report on Thursday, March 27th. BMO Capital Markets upped their target price on Dollar Tree from $80.00 to $85.00 and gave the stock a "market perform" rating in a research note on Thursday, June 5th. Cfra Research upgraded Dollar Tree to a "hold" rating in a research report on Wednesday, May 28th. Finally, Guggenheim reissued a "buy" rating and issued a $100.00 target price on shares of Dollar Tree in a report on Thursday, June 5th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $97.74.

Dollar Tree Trading Up 0.4%

The company has a market cap of $24.09 billion, a PE ratio of -8.33, a PEG ratio of 2.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. The stock has a fifty day moving average of $98.30 and a 200-day moving average of $82.32.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.05. The business had revenue of $4.64 billion during 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 firm's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. Sell-side analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree announced that its board has approved a stock repurchase plan on Wednesday, July 9th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Dollar Tree

In related 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 completion of the transaction, the chief marketing officer owned 50,419 shares in the company, valued at $4,770,645.78. The trade was a 29.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.60% of the company's stock.

Institutional Trading of Dollar Tree

A number of institutional investors and hedge funds have recently made changes to their positions in DLTR. Intrepid Capital Management Inc. raised its holdings in shares of Dollar Tree by 103.6% during the 4th quarter. Intrepid Capital Management Inc. now owns 27,026 shares of the company's stock worth $2,025,000 after acquiring an additional 13,751 shares during the period. Forum Financial Management LP purchased a new position in Dollar Tree in the 4th quarter valued at approximately $340,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Dollar Tree by 50.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,724 shares of the company's stock worth $1,030,000 after acquiring an additional 4,619 shares in the last quarter. McGinn Penninger Investment Management Inc. boosted its stake in shares of Dollar Tree by 13.2% in the 1st quarter. McGinn Penninger Investment Management Inc. now owns 68,585 shares of the company's stock valued at $5,149,000 after buying an additional 8,015 shares during the period. Finally, State of Wyoming acquired a new position in Dollar Tree during the 4th quarter worth approximately $316,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

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