Dollar Tree Inc. (DLTR) Hits New 52-Week High at $99.00
Dollar Tree Inc. (NASDAQ:DLTR) shares hit a new 52-week high on Wednesday . The stock traded as high as $99.00 and last traded at $98.83, with a volume of 1,123,716 shares trading hands. The stock had previously closed at $95.95.
Several brokerages recently weighed in on DLTR. Jefferies Group reissued a “hold” rating and issued a $80.00 target price (up previously from $75.00) on shares of Dollar Tree in a research note on Friday, May 27th. Telsey Advisory Group reissued a “buy” rating on shares of Dollar Tree in a research note on Sunday, May 29th. BTIG Research initiated coverage on shares of Dollar Tree in a research note on Wednesday, June 1st. They set a “buy” rating and a $104.00 price objective for the company. Zacks Investment Research raised shares of Dollar Tree from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Monday, July 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Dollar Tree in a research note on Sunday, May 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $94.95.
The stock’s 50 day moving average is $94.92 and its 200-day moving average is $84.92. The stock has a market cap of $23.13 billion and a price-to-earnings ratio of 51.144.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Thursday, May 26th. The company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.08. The company earned $5.09 billion during the quarter, compared to the consensus estimate of $5.10 billion. The firm’s revenue was up 133.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. On average, equities research analysts predict that Dollar Tree Inc. will post $3.80 earnings per share for the current year.
In other Dollar Tree news, CEO Bob Sasser sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $85.34, for a total value of $5,120,400.00. Following the sale, the chief executive officer now owns 61,769 shares of the company’s stock, valued at approximately $5,271,366.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry W. Sullivan sold 12,297 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were 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 directly owns 17,647 shares in the company, valued at approximately $1,589,112.35. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Pitcairn Co. raised its stake in Dollar Tree by 21.5% in the fourth quarter. Pitcairn Co. now owns 14,617 shares of the company’s stock worth $1,129,000 after buying an additional 2,585 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Dollar Tree by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,341 shares of the company’s stock worth $1,185,000 after buying an additional 260 shares during the period. Advantus Capital Management Inc raised its stake in Dollar Tree by 3.7% in the fourth quarter. Advantus Capital Management Inc now owns 22,832 shares of the company’s stock worth $1,763,000 after buying an additional 815 shares during the period. Trexquant Investment LP acquired a new stake in Dollar Tree during the fourth quarter worth about $2,069,000. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in Dollar Tree by 5.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 29,664 shares of the company’s stock worth $2,291,000 after buying an additional 1,533 shares during the period.
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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