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Dollar Tree (NASDAQ:DLTR) Declares Stock Repurchase Plan

Dollar Tree logo with Retail/Wholesale background

Dollar Tree (NASDAQ:DLTR - Get Free Report) announced that its Board of Directors has approved a stock buyback plan on Wednesday, July 9th, RTT News reports. The company plans to repurchase $2.50 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DLTR has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of Dollar Tree from $92.00 to $94.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. upgraded shares of Dollar Tree from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $72.00 to $111.00 in a research report on Thursday, June 5th. Loop Capital restated a "hold" rating on shares of Dollar Tree in a research report on Thursday, March 27th. Wells Fargo & Company set a $105.00 target price on shares of Dollar Tree and gave the stock an "overweight" rating in a research report on Monday, June 2nd. Finally, BMO Capital Markets lifted their target price on shares of Dollar Tree from $80.00 to $85.00 and gave the stock a "market perform" rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $90.37.

Check Out Our Latest Stock Report on DLTR

Dollar Tree Trading Up 0.9%

Shares of NASDAQ:DLTR traded up $0.99 during trading on Friday, reaching $109.36. The stock had a trading volume of 3,136,265 shares, compared to its average volume of 4,228,644. The business has a fifty day moving average price of $94.33 and a 200-day moving average price of $80.38. 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 stock has a market cap of $22.82 billion, a P/E ratio of -7.89, a PEG ratio of 2.32 and a beta of 0.86. Dollar Tree has a fifty-two week low of $60.49 and a fifty-two week high of $109.74.

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

Insider Buying and Selling

In related news, CMO Richard L. Mcneely sold 21,026 shares of the business's 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 approximately $4,770,645.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Aditya Maheshwari sold 1,238 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were 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 approximately $316,055.70. The trade was a 22.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,439 shares of company stock valued at $2,099,028. 6.60% of the stock is owned by insiders.

Dollar Tree Company Profile

(Get Free Report)

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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