Dollar Tree (NASDAQ:DLTR) Shares Up 6.4% on Better-Than-Expected Earnings

Dollar Tree, Inc. (NASDAQ:DLTR - Get Free Report)'s share price traded up 6.4% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $93.25 and last traded at $94.26. 2,472,997 shares were traded during mid-day trading, a decline of 41% from the average session volume of 4,169,384 shares. The stock had previously closed at $88.62.

The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.05. The business had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.52 billion. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 earnings per share.

Wall Street Analyst Weigh In

DLTR has been the subject of a number of research reports. Wells Fargo & Company increased their target price on Dollar Tree from $90.00 to $105.00 and gave the stock an "overweight" rating in a research note on Monday. Citigroup raised Dollar Tree from a "neutral" rating to a "buy" rating and increased their price objective for the company from $76.00 to $103.00 in a report on Monday, April 7th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $95.00 price target on shares of Dollar Tree in a report on Wednesday. UBS Group increased their price objective on Dollar Tree from $95.00 to $108.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, BMO Capital Markets raised their price target on Dollar Tree from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued 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 target price of $90.26.

Insider Buying and Selling at Dollar Tree

In related news, Director William W. Douglas III purchased 701 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were acquired at an average cost of $75.00 per share, for a total transaction of $52,575.00. Following the acquisition, the director now owns 1,377 shares of the company's stock, valued at $103,275. The trade was a 103.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Aditya Maheshwari sold 1,238 shares of the business's stock in a transaction 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 now owns 4,231 shares in the company, valued at approximately $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. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dollar Tree

Hedge funds have recently made changes to their positions in the company. Horizon Investments LLC boosted its position in shares of Dollar Tree by 5.1% during the first quarter. Horizon Investments LLC now owns 2,905 shares of the company's stock worth $218,000 after buying an additional 140 shares during the period. Assetmark Inc. boosted its holdings in Dollar Tree by 74.1% in the 4th quarter. Assetmark Inc. now owns 350 shares of the company's stock valued at $26,000 after purchasing an additional 149 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Dollar Tree by 20.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 907 shares of the company's stock worth $68,000 after acquiring an additional 157 shares in the last quarter. Brooklyn Investment Group lifted its stake in Dollar Tree by 79.0% in the 1st quarter. Brooklyn Investment Group now owns 358 shares of the company's stock valued at $27,000 after buying an additional 158 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in Dollar Tree by 11.6% in the 1st quarter. Private Trust Co. NA now owns 1,527 shares of the company's stock valued at $115,000 after acquiring an additional 159 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Dollar Tree Price Performance

The company has a market capitalization of $20.79 billion, a price-to-earnings ratio of -20.27, a P/E/G ratio of 2.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03. The company has a fifty day simple moving average of $82.10 and a two-hundred day simple moving average of $75.13.

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.