Short Interest in Dollar Tree Inc. (DLTR) Declines By 14.5%
Dollar Tree Inc. (NASDAQ:DLTR) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 7,650,917 shares, a drop of 14.5% from the August 15th total of 8,952,873 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average trading volume of 3,829,002 shares, the short-interest ratio is currently 2.0 days.
In other Dollar Tree news, insider Barry W. Sullivan sold 2,449 shares of Dollar Tree stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $83.21, for a total transaction of $203,781.29. Following the completion of the sale, the insider now directly owns 8,904 shares in the company, valued at $740,901.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Conrad M. Hall purchased 5,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were bought at an average price of $85.60 per share, with a total value of $428,000.00. Following the completion of the transaction, the director now owns 799 shares of the company’s stock, valued at $68,394.40. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. raised its position in Dollar Tree by 28.4% in the second quarter. Macquarie Group Ltd. now owns 165,614 shares of the company’s stock worth $15,607,000 after buying an additional 36,644 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Dollar Tree during the second quarter worth about $896,000. Kentucky Retirement Systems purchased a new position in Dollar Tree during the second quarter worth about $1,888,000. Northwestern Mutual Investment Management Company LLC raised its position in Dollar Tree by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,987 shares of the company’s stock worth $847,000 after buying an additional 23 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in Dollar Tree during the second quarter worth about $2,990,000. Institutional investors own 94.43% of the company’s stock.
Dollar Tree (NASDAQ:DLTR) opened at 79.70 on Wednesday. The company has a 50-day moving average of $89.16 and a 200-day moving average of $86.77. The stock has a market cap of $18.79 billion, a P/E ratio of 26.44 and a beta of 0.43. Dollar Tree has a 52 week low of $60.31 and a 52 week high of $99.93.
Dollar Tree (NASDAQ:DLTR) last released its earnings results on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.01. The firm earned $5.02 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. Dollar Tree’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. On average, analysts predict that Dollar Tree will post $3.78 EPS for the current fiscal year.
A number of equities research analysts have weighed in on DLTR shares. MKM Partners reiterated a “buy” rating and set a $104.00 price target (up from $80.00) on shares of Dollar Tree in a research report on Tuesday, August 23rd. Citigroup Inc. reiterated a “neutral” rating and set a $89.00 price target (down from $100.00) on shares of Dollar Tree in a research report on Wednesday, August 31st. Piper Jaffray Cos. reiterated a “neutral” rating and set a $85.00 price target (down from $87.00) on shares of Dollar Tree in a research report on Monday, August 29th. Morgan Stanley set a $90.00 price target on shares of Dollar Tree and gave the company a “hold” rating in a research report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $95.10.
Dollar Tree Company Profile
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.
Receive News & Ratings for Dollar Tree Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dollar Tree Inc. and related companies with MarketBeat.com's FREE daily email newsletter.