Dollar Tree, Inc. (NASDAQ:DLTR) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 5,870,000 shares, a drop of 22.8% from the November 30th total of 7,600,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 4,350,000 shares, the days-to-cover ratio is presently 1.3 days.
Shares of Dollar Tree stock opened at $140.96 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.45. Dollar Tree has a twelve month low of $84.26 and a twelve month high of $149.37. The business has a 50-day moving average price of $132.91 and a 200 day moving average price of $109.78. The firm has a market cap of $31.71 billion, a PE ratio of 23.81, a P/E/G ratio of 2.11 and a beta of 0.74.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Tuesday, November 23rd. The company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.01. Dollar Tree had a return on equity of 19.02% and a net margin of 5.29%. The firm had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the business earned $1.39 EPS. Dollar Tree’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, sell-side analysts expect that Dollar Tree will post 5.57 EPS for the current year.
Dollar Tree announced that its board has approved a stock buyback program on Wednesday, September 29th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to repurchase up to 11.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are
In other news, insider William A. Old, Jr. sold 16,267 shares of the firm’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $125.46, for a total value of $2,040,857.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Jacobs sold 3,395 shares of the firm’s stock in a transaction on Thursday, January 6th. The stock was sold at an average price of $143.00, for a total value of $485,485.00. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Veracity Capital LLC increased its stake in Dollar Tree by 4.0% during the 2nd quarter. Veracity Capital LLC now owns 2,547 shares of the company’s stock worth $253,000 after buying an additional 99 shares in the last quarter. Horrell Capital Management Inc. grew its position in shares of Dollar Tree by 0.3% in the third quarter. Horrell Capital Management Inc. now owns 29,497 shares of the company’s stock valued at $2,823,000 after purchasing an additional 100 shares in the last quarter. Meitav Dash Investments Ltd. grew its position in shares of Dollar Tree by 1.4% in the third quarter. Meitav Dash Investments Ltd. now owns 7,200 shares of the company’s stock valued at $714,000 after purchasing an additional 100 shares in the last quarter. Pointe Capital Management LLC grew its position in shares of Dollar Tree by 3.9% in the second quarter. Pointe Capital Management LLC now owns 2,821 shares of the company’s stock valued at $281,000 after purchasing an additional 106 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of Dollar Tree by 0.9% in the third quarter. Crossmark Global Holdings Inc. now owns 12,460 shares of the company’s stock valued at $602,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.
DLTR has been the subject of a number of recent analyst reports. Gordon Haskett raised Dollar Tree from a “hold” rating to a “buy” rating and raised their price objective for the stock from $119.45 to $170.00 in a research report on Tuesday, November 23rd. Loop Capital lifted their price target on Dollar Tree from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Monday, November 15th. Piper Sandler lifted their price target on Dollar Tree from $93.00 to $144.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 24th. Evercore ISI lifted their price target on Dollar Tree from $125.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 24th. Finally, The Goldman Sachs Group cut Dollar Tree from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $116.00 to $150.00 in a research report on Monday, November 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $139.47.
About Dollar Tree
Dollar Tree, Inc owns and operates discount variety stores offering merchandise at the fixed prices. It operates through 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 in Canada.