Truist Financial Issues Positive Forecast for Dollar Tree (NASDAQ:DLTR) Stock Price

Dollar Tree (NASDAQ:DLTR) had its target price increased by Truist Financial from $109.00 to $127.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 10.79% from the company’s current price.

A number of other analysts have also commented on the company. Barclays raised Dollar Tree from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $95.00 to $138.00 in a research report on Monday, July 21st. Sanford C. Bernstein set a $82.00 price objective on Dollar Tree and gave the stock a “market perform” rating in a report on Monday, May 5th. Evercore ISI boosted their price objective on Dollar Tree from $104.00 to $108.00 and gave the stock an “in-line” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Dollar Tree from $111.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Finally, Morgan Stanley boosted their price objective on Dollar Tree from $80.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, June 5th. Two equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $99.89.

Dollar Tree Stock Down 0.7%

Shares of DLTR opened at $114.63 on Wednesday. The company has a market capitalization of $23.92 billion, a PE ratio of -8.27, a PEG ratio of 2.47 and a beta of 0.88. Dollar Tree has a 12 month low of $60.49 and a 12 month high of $118.06. The stock’s 50-day moving average price is $106.32 and its two-hundred day moving average price is $87.02. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the company posted $1.43 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that Dollar Tree will post 5.39 EPS for the current year.

Dollar Tree declared that its board has approved a stock repurchase plan on Wednesday, July 9th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 11.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $94.62, for a total value of $1,989,480.12. Following the transaction, the chief marketing officer owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Dollar Tree

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Dollar Tree by 1.7% in the first quarter. Vanguard Group Inc. now owns 23,839,718 shares of the company’s stock valued at $1,789,648,000 after purchasing an additional 389,490 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Dollar Tree by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 9,994,978 shares of the company’s stock valued at $750,323,000 after purchasing an additional 74,230 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in Dollar Tree by 21.4% in the first quarter. EdgePoint Investment Group Inc. now owns 9,641,507 shares of the company’s stock valued at $723,788,000 after purchasing an additional 1,701,344 shares during the last quarter. Capital International Investors lifted its position in shares of Dollar Tree by 30.1% during the fourth quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock worth $656,000,000 after acquiring an additional 2,023,819 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Dollar Tree by 382.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company’s stock worth $488,974,000 after acquiring an additional 5,173,238 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

About Dollar Tree

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.