Dollar Tree Inc. (DLTR) Reaches New 12-Month High at $96.27
Shares of Dollar Tree Inc. (NASDAQ:DLTR) hit a new 52-week high during trading on Monday . The company traded as high as $96.27 and last traded at $95.68, with a volume of 698,148 shares changing hands. The stock had previously closed at $94.34.
DLTR has been the subject of a number of recent research reports. Buckingham Research reissued a “buy” rating and issued a $106.00 target price on shares of Dollar Tree in a research report on Wednesday, July 6th. Deutsche Bank AG reissued a “hold” rating and issued a $82.00 target price (up from $77.00) on shares of Dollar Tree in a research report on Monday, May 23rd. BTIG Research initiated coverage on Dollar Tree in a research report on Wednesday, June 1st. They issued a “buy” rating and a $104.00 target price for the company. BMO Capital Markets raised their target price on Dollar Tree from $84.00 to $95.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 31st. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Dollar Tree in a research report on Monday, May 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $93.68.
The firm has a market cap of $22.47 billion and a P/E ratio of 49.69. The stock’s 50-day moving average price is $92.78 and its 200 day moving average price is $82.93.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Thursday, May 26th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. The business earned $5.09 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the company posted $0.71 EPS. The company’s quarterly revenue was up 133.6% on a year-over-year basis. Analysts forecast that Dollar Tree Inc. will post $3.79 earnings per share for the current year.
In other Dollar Tree news, EVP Barry W. Sullivan sold 12,297 shares of the stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $90.05, for a total value of $1,107,344.85. Following the completion of the sale, the executive vice president now owns 17,647 shares in the company, valued at approximately $1,589,112.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas A. Saunders sold 5,000 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $95.50, for a total value of $477,500.00. Following the completion of the sale, the director now owns 2,310,387 shares of the company’s stock, valued at approximately $220,641,958.50. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Dollar Tree by 933.2% in the fourth quarter. Principal Financial Group Inc. now owns 3,601,879 shares of the company’s stock worth $278,136,000 after buying an additional 3,253,252 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Dollar Tree by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 19,092,357 shares of the company’s stock worth $1,474,311,000 after buying an additional 540,881 shares during the last quarter. Eagle Asset Management raised its stake in shares of Dollar Tree by 166.0% in the third quarter. Eagle Asset Management now owns 419,522 shares of the company’s stock worth $27,964,000 after buying an additional 261,833 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Dollar Tree by 15.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 714,554 shares of the company’s stock worth $55,180,000 after buying an additional 93,763 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Dollar Tree by 12.5% in the fourth quarter. Morgan Stanley now owns 675,307 shares of the company’s stock worth $52,147,000 after buying an additional 74,900 shares during the last quarter.
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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