Dollar Tree (NASDAQ:DLTR) Issues Earnings Results

Dollar Tree (NASDAQ:DLTR – Get Rating) issued its quarterly earnings results on Thursday. The company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.07), Briefing.com reports. Dollar Tree had a net margin of 5.70% and a return on equity of 19.19%. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.37 EPS. Dollar Tree updated its Q2 guidance to $0.79-0.89 EPS and its FY24 guidance to $5.73-6.13 EPS.

Dollar Tree Stock Performance

Shares of DLTR stock opened at $136.66 on Friday. Dollar Tree has a 52-week low of $129.26 and a 52-week high of $175.68. The stock’s 50-day moving average price is $149.96 and its 200 day moving average price is $148.59. The company has a quick ratio of 0.22, a current ratio of 1.51 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $30.23 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66.

Insider Buying and Selling at Dollar Tree

In related news, CFO Jeffrey A. Davis purchased 1,790 shares of the business’s stock in a transaction dated Monday, March 27th. The stock was acquired at an average price of $139.06 per share, for a total transaction of $248,917.40. Following the completion of the purchase, the chief financial officer now directly owns 15,006 shares of the company’s stock, valued at $2,086,734.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Dollar Tree news, CEO Richard W. Dreiling bought 7,100 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were bought at an average price of $142.00 per share, for a total transaction of $1,008,200.00. Following the transaction, the chief executive officer now owns 7,118 shares of the company’s stock, valued at approximately $1,010,756. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey A. Davis purchased 1,790 shares of Dollar Tree stock in a transaction dated Monday, March 27th. The stock was acquired at an average cost of $139.06 per share, with a total value of $248,917.40. Following the completion of the acquisition, the chief financial officer now directly owns 15,006 shares in the company, valued at $2,086,734.36. The disclosure for this purchase can be found here. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DLTR. Fairfield Bush & CO. acquired a new position in Dollar Tree during the first quarter worth $86,000. Raymond James Trust N.A. boosted its stake in shares of Dollar Tree by 36.5% during the 1st quarter. Raymond James Trust N.A. now owns 3,335 shares of the company’s stock worth $534,000 after acquiring an additional 892 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Dollar Tree during the 1st quarter worth approximately $336,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Dollar Tree by 9.5% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 12,417 shares of the company’s stock worth $1,988,000 after acquiring an additional 1,081 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Dollar Tree by 21.1% during the 1st quarter. Baird Financial Group Inc. now owns 16,198 shares of the company’s stock worth $2,594,000 after acquiring an additional 2,825 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DLTR shares. Telsey Advisory Group reissued an “outperform” rating and set a $165.00 target price on shares of Dollar Tree in a research note on Thursday, March 2nd. Morgan Stanley raised their target price on shares of Dollar Tree from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, March 2nd. StockNews.com began coverage on shares of Dollar Tree in a report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered shares of Dollar Tree from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a report on Thursday, March 2nd. Finally, Barclays started coverage on shares of Dollar Tree in a research note on Tuesday, February 7th. They set an “equal weight” rating and a $145.00 target price for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.67.

Dollar Tree Company Profile

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Dollar Tree, Inc owns and operates discount variety stores offering merchandise at fixed prices. It operates through the Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and Canada.