Dollar Tree’s (DLTR) Equal Weight Rating Reiterated at Morgan Stanley
Morgan Stanley reissued their equal weight rating on shares of Dollar Tree, Inc. (NASDAQ:DLTR) in a research report report published on Friday. The firm currently has a $84.00 target price on the stock, up from their previous target price of $82.00.
Several other research firms also recently commented on DLTR. Zacks Investment Research upgraded Dollar Tree from a sell rating to a hold rating in a research report on Thursday, July 27th. Deutsche Bank AG raised their price objective on Dollar Tree from $95.00 to $96.00 and gave the stock a buy rating in a research report on Thursday, May 25th. BidaskClub upgraded Dollar Tree from a strong sell rating to a sell rating in a research report on Thursday, June 29th. Gordon Haskett assumed coverage on Dollar Tree in a research report on Tuesday, May 9th. They set a buy rating and a $98.00 price objective for the company. Finally, Buckingham Research restated a buy rating and set a $87.00 price objective on shares of Dollar Tree in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $87.42.
Dollar Tree (NASDAQ:DLTR) opened at 80.38 on Friday. The company has a 50-day moving average of $72.34 and a 200-day moving average of $75.66. Dollar Tree has a 12 month low of $65.63 and a 12 month high of $91.41. The company has a market cap of $19.04 billion, a price-to-earnings ratio of 20.56 and a beta of 0.68.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, August 24th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.87 by $0.12. The firm had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Analysts predict that Dollar Tree will post $4.62 EPS for the current year.
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In other news, Director Lemuel E. Lewis acquired 1,900 shares of Dollar Tree stock in a transaction on Monday, June 26th. The stock was purchased at an average price of $66.70 per share, with a total value of $126,730.00. Following the completion of the purchase, the director now owns 16,404 shares of the company’s stock, valued at approximately $1,094,146.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lemuel E. Lewis acquired 3,475 shares of Dollar Tree stock in a transaction on Friday, June 16th. The stock was purchased at an average cost of $71.45 per share, with a total value of $248,288.75. Following the purchase, the director now directly owns 12,744 shares of the company’s stock, valued at approximately $910,558.80. The disclosure for this purchase can be found here. Insiders acquired 10,375 shares of company stock valued at $705,819 in the last three months. Insiders own 2.90% of the company’s stock.
A number of large investors have recently made changes to their positions in DLTR. BlackRock Inc. boosted its stake in shares of Dollar Tree by 1,996.3% in the first quarter. BlackRock Inc. now owns 14,424,151 shares of the company’s stock worth $1,131,717,000 after buying an additional 13,736,060 shares during the period. FMR LLC boosted its stake in shares of Dollar Tree by 49.4% in the second quarter. FMR LLC now owns 17,309,462 shares of the company’s stock worth $1,210,277,000 after buying an additional 5,724,495 shares during the period. Maverick Capital Ltd. boosted its stake in shares of Dollar Tree by 86.7% in the second quarter. Maverick Capital Ltd. now owns 8,135,605 shares of the company’s stock worth $568,842,000 after buying an additional 3,777,579 shares during the period. Nordea Investment Management AB boosted its stake in shares of Dollar Tree by 888.9% in the first quarter. Nordea Investment Management AB now owns 2,057,360 shares of the company’s stock worth $161,420,000 after buying an additional 1,849,314 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Dollar Tree by 116.0% in the second quarter. Renaissance Technologies LLC now owns 1,801,303 shares of the company’s stock worth $125,947,000 after buying an additional 967,500 shares during the period. 90.82% of the stock is owned by hedge funds and other institutional investors.
About Dollar Tree
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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