Dollar Tree (NASDAQ:DLTR) Receives Buy Rating from Truist Financial

Dollar Tree (NASDAQ:DLTR)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a report issued on Wednesday, MarketBeat reports. They presently have a $127.00 price objective on the stock, up from their prior price objective of $109.00. Truist Financial’s price objective would indicate a potential upside of 10.79% from the company’s previous close.

Several other brokerages have also weighed in on DLTR. Telsey Advisory Group restated a “market perform” rating and issued a $95.00 price objective on shares of Dollar Tree in a report on Wednesday, June 4th. UBS Group upped their price objective on Dollar Tree from $95.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Piper Sandler upped their price objective on Dollar Tree from $72.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, June 5th. Sanford C. Bernstein set a $82.00 price objective on Dollar Tree and gave the company a “market perform” rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group lowered Dollar Tree from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $99.89.

Dollar Tree Trading Down 0.7%

NASDAQ:DLTR opened at $114.63 on Wednesday. Dollar Tree has a 12-month low of $60.49 and a 12-month high of $118.06. The firm has a market capitalization of $23.92 billion, a P/E ratio of -8.27, a P/E/G ratio of 2.47 and a beta of 0.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.04 and a quick ratio of 0.72. The business has a 50 day simple moving average of $106.32 and a 200 day simple moving average of $87.02.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. The company had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Equities research analysts predict that Dollar Tree will post 5.39 EPS for the current year.

Dollar Tree announced that its board has authorized a share buyback program on Wednesday, July 9th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the company to repurchase up to 11.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Dollar Tree

In other news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the transaction, the chief marketing officer owned 50,419 shares of the company’s stock, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DLTR. Kovitz Investment Group Partners LLC increased its holdings in shares of Dollar Tree by 382.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company’s stock valued at $488,974,000 after acquiring an additional 5,173,238 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Dollar Tree by 784.2% during the 4th quarter. Marshall Wace LLP now owns 4,377,366 shares of the company’s stock valued at $328,040,000 after acquiring an additional 3,882,324 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Dollar Tree by 2,489.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,621,456 shares of the company’s stock valued at $196,452,000 after acquiring an additional 2,520,237 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Dollar Tree by 69.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,848,196 shares of the company’s stock valued at $439,025,000 after acquiring an additional 2,400,586 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Dollar Tree by 176.9% during the 2nd quarter. Alliancebernstein L.P. now owns 3,746,222 shares of the company’s stock valued at $371,026,000 after acquiring an additional 2,393,172 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Dollar Tree Company Profile

Dollar Tree, Inc operates retail discount stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.