Dollar Tree Inc. (DLTR) Short Interest Update
Dollar Tree Inc. (NASDAQ:DLTR) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 8,862,846 shares, a decline of 17.3% from the October 31st total of 10,715,651 shares. Based on an average daily trading volume, of 2,145,179 shares, the days-to-cover ratio is presently 4.1 days. Currently, 3.9% of the shares of the company are short sold.
Shares of Dollar Tree (NASDAQ:DLTR) opened at 88.16 on Thursday. The company’s 50-day moving average is $78.37 and its 200-day moving average is $86.03. Dollar Tree has a 52-week low of $72.52 and a 52-week high of $99.93. The firm has a market cap of $20.79 billion, a P/E ratio of 25.92 and a beta of 0.57.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.03. Dollar Tree had a return on equity of 17.15% and a net margin of 3.93%. The business earned $5 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the company posted $0.49 EPS. Dollar Tree’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts forecast that Dollar Tree will post $3.81 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on DLTR. Credit Suisse Group AG set a $69.00 price target on shares of Dollar Tree and gave the stock a “sell” rating in a research note on Wednesday, October 5th. Cleveland Research cut shares of Dollar Tree from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 4th. Atlantic Securities cut shares of Dollar Tree from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $87.00 to $68.00 in a research note on Tuesday, September 27th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $101.00 price target on shares of Dollar Tree in a research note on Tuesday, September 6th. Finally, Vetr cut shares of Dollar Tree from a “strong-buy” rating to a “buy” rating and set a $86.00 price target on the stock. in a research note on Tuesday, September 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Dollar Tree has a consensus rating of “Hold” and a consensus target price of $91.73.
In other news, insider Joshua R. Jewett sold 6,716 shares of the company’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $88.57, for a total transaction of $594,836.12. Following the transaction, the insider now directly owns 6,063 shares of the company’s stock, valued at approximately $536,999.91. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lemuel E. Lewis purchased 1,560 shares of the stock in a transaction dated Tuesday, September 13th. The shares were bought at an average cost of $80.00 per share, for a total transaction of $124,800.00. Following the completion of the purchase, the director now owns 11,029 shares in the company, valued at $882,320. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in DLTR. Tower Research Capital LLC TRC raised its position in Dollar Tree by 1,439.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,062 shares of the company’s stock worth $100,000 after buying an additional 993 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Dollar Tree during the second quarter worth $108,000. Signaturefd LLC raised its position in Dollar Tree by 1.5% in the second quarter. Signaturefd LLC now owns 1,266 shares of the company’s stock worth $119,000 after buying an additional 19 shares during the period. Tredje AP fonden bought a new position in Dollar Tree during the second quarter worth $120,000. Finally, Global X Management Co. LLC raised its position in Dollar Tree by 121.0% in the second quarter. Global X Management Co. LLC now owns 1,423 shares of the company’s stock worth $134,000 after buying an additional 779 shares during the period. Institutional investors and hedge funds own 94.35% of the company’s stock.
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.
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