Dollar Tree (NASDAQ:DLTR – Free Report) had its target price lifted by JPMorgan Chase & Co. from $70.00 to $82.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.
A number of other research analysts have also weighed in on DLTR. BMO Capital Markets lowered Dollar Tree from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $130.00 to $68.00 in a research note on Thursday, September 5th. Barclays lowered their price target on Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, September 5th. Melius Research initiated coverage on shares of Dollar Tree in a report on Monday, September 23rd. They set a “hold” rating and a $70.00 price objective on the stock. Redburn Atlantic upgraded shares of Dollar Tree to a “hold” rating in a report on Monday, September 23rd. Finally, Guggenheim cut their price target on shares of Dollar Tree from $150.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.11.
Read Our Latest Stock Analysis on DLTR
Dollar Tree Stock Performance
Dollar Tree (NASDAQ:DLTR – Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.37). The firm had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.49 billion. Dollar Tree had a positive return on equity of 15.77% and a negative net margin of 3.44%. Dollar Tree’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. On average, analysts anticipate that Dollar Tree will post 5.33 EPS for the current fiscal year.
Insider Activity
In other news, Director Daniel J. Heinrich purchased 2,200 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $68.27 per share, with a total value of $150,194.00. Following the purchase, the director now directly owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.80% of the company’s stock.
Hedge Funds Weigh In On Dollar Tree
Several institutional investors and hedge funds have recently made changes to their positions in DLTR. ICICI Prudential Asset Management Co Ltd increased its position in shares of Dollar Tree by 17.1% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 2,805 shares of the company’s stock worth $197,000 after purchasing an additional 409 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Dollar Tree by 3.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 92,928 shares of the company’s stock valued at $6,535,000 after buying an additional 3,077 shares during the last quarter. Empower Advisory Group LLC increased its holdings in Dollar Tree by 41.3% in the third quarter. Empower Advisory Group LLC now owns 659,747 shares of the company’s stock valued at $46,393,000 after buying an additional 192,754 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Dollar Tree by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 480,400 shares of the company’s stock valued at $33,782,000 after buying an additional 2,405 shares in the last quarter. Finally, Versor Investments LP bought a new position in Dollar Tree during the 3rd quarter worth approximately $457,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
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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