JPMorgan Chase & Co. Lowers Dollar Tree (NASDAQ:DLTR) to Neutral

JPMorgan Chase & Co. lowered shares of Dollar Tree (NASDAQ:DLTR) from an overweight rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have $70.00 target price on the stock, down from their prior target price of $111.00.

Several other analysts also recently weighed in on DLTR. Telsey Advisory Group dropped their price target on Dollar Tree from $155.00 to $120.00 and set an outperform rating on the stock in a research note on Friday, August 30th. Piper Sandler lowered Dollar Tree from an overweight rating to a neutral rating and cut their price objective for the company from $143.00 to $112.00 in a report on Tuesday, July 16th. Evercore ISI increased their price objective on Dollar Tree from $136.00 to $137.00 and gave the company an in-line rating in a report on Thursday, June 20th. Morgan Stanley cut their price objective on Dollar Tree from $135.00 to $130.00 and set an equal weight rating on the stock in a report on Thursday, June 6th. Finally, Truist Financial cut their price objective on Dollar Tree from $147.00 to $140.00 and set a buy rating on the stock in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Dollar Tree presently has a consensus rating of Hold and an average target price of $95.00.

Dollar Tree Stock Down 2.9 %

Shares of DLTR stock opened at $66.50 on Wednesday. Dollar Tree has a 1-year low of $60.81 and a 1-year high of $151.21. The stock’s fifty day moving average price is $97.85 and its 200 day moving average price is $115.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.23. The company has a market cap of $14.29 billion, a price-to-earnings ratio of -14.49, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87.

Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter last year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts expect that Dollar Tree will post 6.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total transaction of $87,314.66. Following the transaction, the insider now owns 9,725 shares in the company, valued at $1,026,765.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dollar Tree

A number of hedge funds have recently bought and sold shares of DLTR. Capital International Investors boosted its position in Dollar Tree by 30.1% during the fourth quarter. Capital International Investors now owns 10,581,632 shares of the company’s stock worth $1,503,123,000 after purchasing an additional 2,445,827 shares in the last quarter. Norges Bank purchased a new position in shares of Dollar Tree in the fourth quarter valued at approximately $333,373,000. FIL Ltd lifted its position in shares of Dollar Tree by 96.0% in the fourth quarter. FIL Ltd now owns 3,197,638 shares of the company’s stock valued at $454,224,000 after acquiring an additional 1,566,392 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Dollar Tree by 223.4% in the first quarter. National Bank of Canada FI now owns 1,414,788 shares of the company’s stock valued at $188,379,000 after acquiring an additional 977,313 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Dollar Tree by 50.0% in the second quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock valued at $306,693,000 after acquiring an additional 957,275 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.