Short Interest in Dollar Tree Inc. (DLTR) Expands By 23.9%
Dollar Tree Inc. (NASDAQ:DLTR) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 9,479,613 shares, a growth of 23.9% from the August 31st total of 7,650,917 shares. Currently, 4.2% of the shares of the company are short sold. Based on an average daily trading volume, of 3,065,966 shares, the short-interest ratio is presently 3.1 days.
Shares of Dollar Tree (NASDAQ:DLTR) opened at 79.40 on Thursday. The stock has a 50 day moving average price of $86.36 and a 200 day moving average price of $86.80. The firm has a market capitalization of $18.72 billion, a P/E ratio of 26.34 and a beta of 0.43. Dollar Tree has a 52 week low of $60.31 and a 52 week high of $99.93.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by $0.01. Dollar Tree had a return on equity of 16.29% and a net margin of 3.50%. The company earned $5.02 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The firm’s revenue was up 66.0% on a year-over-year basis. Analysts forecast that Dollar Tree will post $3.81 EPS for the current year.
In other news, Director Lemuel E. Lewis bought 1,470 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The shares were bought at an average price of $85.00 per share, with a total value of $124,950.00. Following the completion of the transaction, the director now owns 9,469 shares of the company’s stock, valued at $804,865. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Conrad M. Hall bought 5,000 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was purchased at an average cost of $85.60 per share, for a total transaction of $428,000.00. Following the transaction, the director now directly owns 799 shares of the company’s stock, valued at approximately $68,394.40. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Dollar Tree by 1,439.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,062 shares of the company’s stock valued at $100,000 after buying an additional 993 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Dollar Tree during the first quarter valued at $108,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Dollar Tree during the second quarter valued at $108,000. Signaturefd LLC increased its stake in Dollar Tree by 1.5% in the second quarter. Signaturefd LLC now owns 1,266 shares of the company’s stock valued at $119,000 after buying an additional 19 shares in the last quarter. Finally, Tredje AP fonden acquired a new stake in Dollar Tree during the second quarter valued at $120,000. 94.37% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Dollar Tree in a research report on Wednesday, July 6th. Vetr raised Dollar Tree from a “buy” rating to a “strong-buy” rating and set a $103.78 price target on the stock in a research report on Wednesday, June 1st. BTIG Research assumed coverage on Dollar Tree in a research report on Wednesday, June 1st. They set a “buy” rating and a $104.00 price target on the stock. Jefferies Group reissued a “hold” rating on shares of Dollar Tree in a research report on Monday, September 12th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $100.00 price target (up previously from $84.00) on shares of Dollar Tree in a research report on Monday, June 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. Dollar Tree presently has an average rating of “Buy” and an average price target of $92.36.
About Dollar Tree
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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