Traders Buy Dollar Tree Inc. (DLTR) on Weakness
Traders purchased shares of Dollar Tree Inc. (NASDAQ:DLTR) on weakness during trading on Thursday. $40.20 million flowed into the stock on the tick-up and $30.24 million flowed out of the stock on the tick-down, for a money net flow of $9.96 million into the stock. Of all stocks tracked, Dollar Tree had the 15th highest net in-flow for the day. Dollar Tree traded down ($0.75) for the day and closed at $97.37
Several equities analysts recently weighed in on DLTR shares. Zacks Investment Research downgraded Dollar Tree from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Jefferies Group reiterated a “hold” rating and set a $75.00 target price on shares of Dollar Tree in a research report on Monday, May 16th. Sterne Agee CRT reiterated a “buy” rating on shares of Dollar Tree in a research report on Monday, May 16th. Deutsche Bank AG reiterated a “hold” rating and set a $82.00 target price (up from $77.00) on shares of Dollar Tree in a research report on Monday, May 23rd. Finally, Topeka Capital Markets started coverage on Dollar Tree in a research report on Monday, May 23rd. They set a “buy” rating and a $105.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Dollar Tree has a consensus rating of “Buy” and an average target price of $94.95.
The company has a 50-day moving average of $95.34 and a 200 day moving average of $85.24. The stock has a market capitalization of $22.69 billion and a P/E ratio of 50.17.
Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Thursday, May 26th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.08. The firm earned $5.09 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 133.6% compared to the same quarter last year. Equities research analysts expect that Dollar Tree Inc. will post $3.81 earnings per share for the current year.
In other Dollar Tree news, EVP Barry W. Sullivan sold 12,297 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,589,112.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bob Sasser sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 61,769 shares of the company’s stock, valued at approximately $5,271,366.46. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in DLTR. Morgan Stanley boosted 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 in the last quarter. Royce & Associates LLC boosted its stake in shares of Dollar Tree by 48.8% in the fourth quarter. Royce & Associates LLC now owns 43,000 shares of the company’s stock worth $3,320,000 after buying an additional 14,100 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of Dollar Tree by 28.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 44,652 shares of the company’s stock worth $2,893,000 after buying an additional 9,887 shares in the last quarter. Eaton Vance Management boosted its stake in shares of Dollar Tree by 506.2% in the fourth quarter. Eaton Vance Management now owns 31,117 shares of the company’s stock worth $2,403,000 after buying an additional 25,984 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Dollar Tree during the fourth quarter worth $3,330,000.
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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