Dollar Tree (NASDAQ:DLTR) Price Target Raised to $130.00

Dollar Tree (NASDAQ:DLTR - Get Free Report) had its price target raised by investment analysts at Wells Fargo & Company from $105.00 to $130.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 13.83% from the company's current price.

A number of other brokerages also recently commented on DLTR. 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. JPMorgan Chase & Co. increased their price objective on Dollar Tree from $111.00 to $138.00 and gave the company an "overweight" rating in a research report on Monday. Cfra Research upgraded Dollar Tree to a "hold" rating in a research report on Wednesday, May 28th. Truist Financial increased their price objective on Dollar Tree from $89.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, June 2nd. Finally, Morgan Stanley increased their price objective on Dollar Tree from $80.00 to $96.00 and gave the company an "equal weight" rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Dollar Tree presently has an average rating of "Hold" and a consensus price target of $97.74.

Dollar Tree Price Performance

DLTR traded down $0.71 during trading on Tuesday, reaching $114.21. The stock had a trading volume of 4,397,801 shares, compared to its average volume of 4,272,848. The firm has a market capitalization of $23.84 billion, a price-to-earnings ratio of -8.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.86. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. Dollar Tree has a 1-year low of $60.49 and a 1-year high of $115.99. The stock has a 50 day moving average of $98.30 and a two-hundred day moving average of $82.32.

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

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

Insider Buying and Selling

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $94.62, for a total transaction 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. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Dollar Tree

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Dollar Tree by 1.7% during the first quarter. Vanguard Group Inc. now owns 23,839,718 shares of the company's stock valued at $1,789,648,000 after acquiring an additional 389,490 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Dollar Tree by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,994,978 shares of the company's stock valued at $750,323,000 after buying an additional 74,230 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Dollar Tree by 21.4% in the first quarter. EdgePoint Investment Group Inc. now owns 9,641,507 shares of the company's stock valued at $723,788,000 after buying an additional 1,701,344 shares during the period. Capital International Investors lifted its stake in shares of Dollar Tree by 30.1% in the fourth quarter. Capital International Investors now owns 8,753,693 shares of the company's stock valued at $656,000,000 after buying an additional 2,023,819 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Dollar Tree by 382.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company's stock valued at $488,974,000 after buying an additional 5,173,238 shares during the period. 97.40% of the stock is 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.