Dollar Tree Inc. (DLTR) Reaches New 12-Month High at $96.45
Dollar Tree Inc. (NASDAQ:DLTR)’s share price reached a new 52-week high on Monday . The company traded as high as $96.45 and last traded at $96.28, with a volume of 379,695 shares trading hands. The stock had previously closed at $96.13.
DLTR has been the subject of a number of recent analyst reports. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Dollar Tree in a research report on Wednesday, July 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $82.00 price target (up previously from $77.00) on shares of Dollar Tree in a research report on Sunday, May 29th. Vetr upgraded Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $112.00 price target for the company in a research report on Wednesday, July 6th. Buckingham Research restated a “buy” rating and set a $106.00 price objective on shares of Dollar Tree in a research report on Wednesday, July 6th. Finally, Telsey Advisory Group decreased their price objective on Dollar Tree from $102.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.68.
The stock’s 50 day moving average price is $93.50 and its 200-day moving average price is $83.54. The firm has a market cap of $22.78 billion and a PE ratio of 50.36.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, May 26th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.08. The business earned $5.09 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue was up 133.6% on a year-over-year basis. On average, equities research analysts forecast that Dollar Tree Inc. will post $3.79 earnings per share for the current fiscal year.
In other news, Director Thomas A. Saunders sold 5,000 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $95.50, for a total transaction of $477,500.00. Following the completion of the transaction, the director now directly owns 2,310,387 shares of the company’s stock, valued at $220,641,958.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Jacobs sold 3,167 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $90.43, for a total value of $286,391.81. Following the transaction, the insider now directly owns 20,193 shares of the company’s stock, valued at $1,826,052.99. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. Pitcairn Co. boosted its position in Dollar Tree by 21.5% in the fourth quarter. Pitcairn Co. now owns 14,617 shares of the company’s stock valued at $1,129,000 after buying an additional 2,585 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position 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 valued at $1,185,000 after buying an additional 260 shares in the last quarter. Cibc World Markets Corp boosted its position in Dollar Tree by 19.9% in the fourth quarter. Cibc World Markets Corp now owns 19,469 shares of the company’s stock valued at $1,503,000 after buying an additional 3,230 shares in the last quarter. Herndon Capital Management LLC boosted its position in Dollar Tree by 7.2% in the fourth quarter. Herndon Capital Management LLC now owns 21,252 shares of the company’s stock valued at $1,641,000 after buying an additional 1,422 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Dollar Tree during the fourth quarter valued at $1,648,000.
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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