KeyCorp Initiates Coverage on Dollar Tree Inc. (DLTR)
Investment analysts at KeyCorp started coverage on shares of Dollar Tree Inc. (NASDAQ:DLTR) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set an “overweight” rating on the stock.
A number of other research analysts have also recently commented on DLTR. Buckingham Research restated a “buy” rating and issued a $106.00 price target on shares of Dollar Tree in a research report on Wednesday, July 6th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Dollar Tree in a research report on Wednesday, July 6th. Vetr upgraded Dollar Tree from a “hold” rating to a “strong-buy” rating and set a $112.00 price target on the stock in a research report on Wednesday, July 6th. Zacks Investment Research upgraded Dollar Tree from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Monday, July 11th. Finally, Deutsche Bank AG upgraded Dollar Tree from a “hold” rating to a “buy” rating and raised their price target for the stock from $82.00 to $110.00 in a research report on Monday, August 1st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $91.14.
Shares of Dollar Tree (NASDAQ:DLTR) traded up 0.30% during mid-day trading on Wednesday, reaching $77.47. The company’s stock had a trading volume of 1,093,757 shares. The company has a 50-day moving average of $81.57 and a 200-day moving average of $86.64. The firm has a market cap of $18.27 billion, a PE ratio of 25.70 and a beta of 0.54. Dollar Tree has a 12 month low of $60.31 and a 12 month high of $99.93.
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Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Thursday, August 25th. The company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.01. Dollar Tree had a return on equity of 16.29% and a net margin of 3.50%. The company earned $5.02 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. On average, analysts predict that Dollar Tree will post $3.80 earnings per share for the current year.
In related news, Director Lemuel E. Lewis bought 1,560 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were bought at an average price of $80.00 per share, with a total value of $124,800.00. Following the completion of the transaction, the director now directly owns 11,029 shares in the company, valued at $882,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Barry W. Sullivan sold 2,449 shares of Dollar Tree stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $83.21, for a total value of $203,781.29. Following the transaction, the insider now directly owns 8,904 shares in the company, valued at approximately $740,901.84. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Dollar Tree by 2.5% in the second quarter. Vanguard Group Inc. now owns 20,047,522 shares of the company’s stock valued at $1,889,278,000 after buying an additional 492,077 shares during the last quarter. Lone Pine Capital LLC boosted its position in Dollar Tree by 15.1% in the second quarter. Lone Pine Capital LLC now owns 13,362,151 shares of the company’s stock valued at $1,259,249,000 after buying an additional 1,755,667 shares in the last quarter. FMR LLC boosted its position in Dollar Tree by 7.1% in the second quarter. FMR LLC now owns 8,489,053 shares of the company’s stock valued at $800,008,000 after buying an additional 561,520 shares in the last quarter. Principal Financial Group Inc. boosted its position in Dollar Tree by 11.2% in the second quarter. Principal Financial Group Inc. now owns 4,795,123 shares of the company’s stock valued at $451,892,000 after buying an additional 483,012 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its position in Dollar Tree by 0.6% in the second quarter. BlackRock Fund Advisors now owns 3,987,310 shares of the company’s stock valued at $375,764,000 after buying an additional 22,347 shares in the last quarter. 94.37% of the stock is currently owned by institutional investors.
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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