Dollar Tree Inc. (DLTR) Sets New 1-Year High at $97.84
Dollar Tree Inc. (NASDAQ:DLTR) shares hit a new 52-week high during trading on Monday . The company traded as high as $97.84 and last traded at $96.96, with a volume of 730,897 shares changing hands. The stock had previously closed at $96.29.
DLTR has been the topic of a number of research reports. Jefferies Group reaffirmed a “hold” rating and issued a $80.00 price objective (up from $75.00) on shares of Dollar Tree in a report on Friday, May 27th. Zacks Investment Research lowered Dollar Tree from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Vetr raised Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective on the stock in a report on Wednesday, July 6th. Telsey Advisory Group reaffirmed a “buy” rating on shares of Dollar Tree in a report on Sunday, May 29th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $91.00 price objective on shares of Dollar Tree in a report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Dollar Tree has a consensus rating of “Buy” and a consensus target price of $94.95.
The company has a 50 day moving average of $94.21 and a 200-day moving average of $84.27. The firm has a market capitalization of $22.68 billion and a price-to-earnings ratio of 50.15.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, May 26th. The company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.08. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Dollar Tree’s quarterly revenue was up 133.6% compared to the same quarter last year. Equities analysts forecast that Dollar Tree Inc. will post $3.80 EPS 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 value of $477,500.00. Following the completion of the transaction, the director now directly owns 2,310,387 shares in the company, valued at approximately $220,641,958.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bob Sasser sold 60,000 shares of the company’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 transaction, the chief executive officer now owns 61,769 shares of the company’s stock, valued at $5,271,366.46. The disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of DLTR. Eagle Asset Management boosted its position in Dollar Tree by 166.0% in the third quarter. Eagle Asset Management now owns 419,522 shares of the company’s stock worth $27,964,000 after buying an additional 261,833 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Dollar Tree by 15.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 714,554 shares of the company’s stock worth $55,180,000 after buying an additional 93,763 shares during the last quarter. BlackRock Advisors LLC boosted its position in Dollar Tree by 35.9% in the fourth quarter. BlackRock Advisors LLC now owns 314,064 shares of the company’s stock worth $24,253,000 after buying an additional 82,956 shares during the last quarter. Morgan Stanley boosted its position in 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 during the last quarter. Finally, Covey Capital Advisors LLC boosted its position in Dollar Tree by 208.7% in the fourth quarter. Covey Capital Advisors LLC now owns 94,980 shares of the company’s stock worth $7,334,000 after buying an additional 64,210 shares during the last quarter.
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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