Dollar Tree (NASDAQ:DLTR) was downgraded by TheStreet from a “b” rating to a “c+” rating in a research report issued on Wednesday, TheStreetRatingsTable reports.
Other research analysts have also recently issued reports about the stock. Royal Bank of Canada decreased their price objective on shares of Dollar Tree from $131.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, May 28th. They noted that the move was a valuation call. Morgan Stanley reduced their target price on shares of Dollar Tree from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday, June 1st. JPMorgan Chase & Co. raised their target price on shares of Dollar Tree from $130.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reduced their target price on shares of Dollar Tree from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, May 28th. Finally, Citigroup reduced their target price on shares of Dollar Tree from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, May 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $120.00.
Dollar Tree stock opened at $99.70 on Wednesday. The company has a 50 day moving average of $110.84. The company has a quick ratio of 0.44, a current ratio of 1.36 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $23.13 billion, a PE ratio of 16.03, a PEG ratio of 1.62 and a beta of 0.87. Dollar Tree has a 12-month low of $84.41 and a 12-month high of $120.37.
Dollar Tree declared that its board has approved a share repurchase program on Wednesday, March 3rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
In related news, Director Gregory M. Bridgeford bought 5,100 shares of the business’s stock in a transaction on Tuesday, June 1st. The stock was bought at an average price of $99.02 per share, for a total transaction of $505,002.00. Following the transaction, the director now directly owns 899 shares in the company, valued at $89,018.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David A. Jacobs sold 3,869 shares of the 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 completion of the sale, the insider now owns 12,039 shares of the company’s stock, valued at approximately $1,388,096.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,518 shares of company stock valued at $3,384,264. Insiders own 1.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Freedman Financial Associates Inc. bought a new position in shares of Dollar Tree during the 4th quarter valued at $34,000. Logan Capital Management Inc. bought a new position in shares of Dollar Tree during the 1st quarter valued at $36,000. Inspire Advisors LLC bought a new position in shares of Dollar Tree during the 4th quarter valued at $41,000. Cordasco Financial Network raised its holdings in shares of Dollar Tree by 170.1% during the 1st quarter. Cordasco Financial Network now owns 397 shares of the company’s stock valued at $45,000 after purchasing an additional 250 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Dollar Tree by 48.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 391 shares of the company’s stock valued at $45,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 89.51% of the company’s stock.
About Dollar Tree
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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