Short Interest in Dollar Tree, Inc. (NASDAQ:DLTR) Drops By 11.4%

Dollar Tree, Inc. (NASDAQ:DLTR) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 11,770,000 shares, a decline of 11.4% from the September 15th total of 13,290,000 shares. Based on an average trading volume of 4,040,000 shares, the short-interest ratio is currently 2.9 days. Currently, 5.5% of the company’s stock are sold short.

Insider Transactions at Dollar Tree

In other Dollar Tree news, Director Daniel J. Heinrich acquired 2,200 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $68.27 per share, with a total value of $150,194.00. Following the acquisition, the director now directly owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Institutional Trading of Dollar Tree

Hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new stake in Dollar Tree in the 2nd quarter worth approximately $779,000. Wellington Management Group LLP boosted its position in Dollar Tree by 2.6% during the fourth quarter. Wellington Management Group LLP now owns 2,881,772 shares of the company’s stock valued at $409,356,000 after purchasing an additional 73,588 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Dollar Tree by 165.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,028,411 shares of the company’s stock valued at $109,803,000 after buying an additional 640,848 shares in the last quarter. Indiana Trust & Investment Management CO lifted its stake in shares of Dollar Tree by 168.4% in the 1st quarter. Indiana Trust & Investment Management CO now owns 416 shares of the company’s stock valued at $55,000 after purchasing an additional 261 shares during the last quarter. Finally, Easterly Investment Partners LLC boosted its position in Dollar Tree by 49.5% during the second quarter. Easterly Investment Partners LLC now owns 39,274 shares of the company’s stock worth $4,193,000 after purchasing an additional 13,012 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Dollar Tree Price Performance

Shares of NASDAQ DLTR traded down $0.14 during midday trading on Thursday, reaching $67.88. The company’s stock had a trading volume of 489,826 shares, compared to its average volume of 3,176,190. Dollar Tree has a one year low of $60.81 and a one year high of $151.21. The company has a market cap of $14.59 billion, a price-to-earnings ratio of -14.82, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company has a 50 day moving average price of $78.85 and a 200 day moving average price of $101.51. The company has a current ratio of 1.02, a quick ratio of 0.17 and a debt-to-equity ratio of 0.33.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). The company had revenue of $7.37 billion for the quarter, compared to analyst estimates of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. Dollar Tree’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. On average, equities research analysts expect that Dollar Tree will post 5.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DLTR shares. Citigroup lowered their price target on shares of Dollar Tree from $120.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Piper Sandler reduced their price objective on shares of Dollar Tree from $112.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. The Goldman Sachs Group cut their target price on shares of Dollar Tree from $145.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Morgan Stanley reduced their price objective on Dollar Tree from $130.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered shares of Dollar Tree from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $111.00 to $70.00 in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $88.00.

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.