Dollar Tree (NASDAQ:DLTR) was downgraded by research analysts at TheStreet from a “b” rating to a “c+” rating in a report issued on Wednesday, TheStreetRatingsTable reports.
Several other research analysts have also recently weighed in on the company. Morgan Stanley decreased their target price on Dollar Tree from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 1st. Bank of America lowered Dollar Tree from a “buy” rating to an “underperform” rating in a research report on Thursday, February 25th. Royal Bank of Canada decreased their price target on Dollar Tree from $131.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, May 28th. They noted that the move was a valuation call. Citigroup decreased their price target on Dollar Tree from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, May 28th. Finally, BMO Capital Markets decreased their price target on Dollar Tree from $115.00 to $108.00 and set a “market perform” rating for the company in a research report on Friday, May 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Dollar Tree has an average rating of “Buy” and an average price target of $120.00.
Dollar Tree stock opened at $99.70 on Wednesday. The stock has a market cap of $23.13 billion, a PE ratio of 16.03, a P/E/G ratio of 1.62 and a beta of 0.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 1.36. The firm’s 50 day simple moving average is $110.84. Dollar Tree has a 52 week low of $84.41 and a 52 week high of $120.37.
Dollar Tree announced that its Board of Directors has authorized a stock buyback program on Wednesday, March 3rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
In other news, insider David A. Jacobs sold 3,869 shares of Dollar Tree stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $115.30, for a total transaction of $446,095.70. Following the sale, the insider now owns 12,039 shares of the company’s stock, valued at approximately $1,388,096.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory M. Bridgeford acquired 5,100 shares of the firm’s stock in a transaction dated Tuesday, June 1st. The shares were purchased at an average cost of $99.02 per share, for a total transaction of $505,002.00. Following the acquisition, the director now directly owns 899 shares in the company, valued at approximately $89,018.98. The disclosure for this purchase can be found here. Insiders have sold a total of 29,518 shares of company stock worth $3,384,264 in the last three months. 1.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of DLTR. First Trust Advisors LP raised its position in Dollar Tree by 26.3% in the 4th quarter. First Trust Advisors LP now owns 255,031 shares of the company’s stock valued at $27,554,000 after purchasing an additional 53,137 shares during the last quarter. Trust Co. of Vermont raised its position in shares of Dollar Tree by 54.0% during the fourth quarter. Trust Co. of Vermont now owns 539 shares of the company’s stock worth $58,000 after acquiring an additional 189 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Dollar Tree by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 72,572 shares of the company’s stock worth $7,841,000 after acquiring an additional 3,690 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Dollar Tree during the fourth quarter worth $230,000. Finally, State of Wisconsin Investment Board raised its position in shares of Dollar Tree by 2.5% during the fourth quarter. State of Wisconsin Investment Board now owns 131,712 shares of the company’s stock worth $14,230,000 after acquiring an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 89.51% of the company’s stock.
Dollar Tree Company Profile
Dollar Tree, Inc operates discount variety retail stores. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and personal care, as well as everyday consumables, such as household paper and chemicals, 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.
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