Short Interest in Dollar Tree, Inc. (NASDAQ:DLTR) Drops By 5.1%

Dollar Tree, Inc. (NASDAQ:DLTR) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 6,160,000 shares, a drop of 5.1% from the May 31st total of 6,490,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 2,800,000 shares, the short-interest ratio is currently 2.2 days.

Dollar Tree Stock Down 0.1 %

Shares of DLTR opened at $107.11 on Wednesday. The firm has a market cap of $23.02 billion, a PE ratio of -23.34, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88. The company’s fifty day moving average is $114.48 and its two-hundred day moving average is $128.33. Dollar Tree has a fifty-two week low of $101.85 and a fifty-two week high of $154.96. The company has a quick ratio of 0.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, June 5th. The company reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.63 billion. Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. Dollar Tree’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.47 EPS. Analysts forecast that Dollar Tree will post 6.63 earnings per share for the current year.

Insider Transactions at Dollar Tree

In other news, insider Robert Aflatooni sold 827 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $105.58, for a total transaction of $87,314.66. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $1,026,765.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Dollar Tree

Several hedge funds and other institutional investors have recently made changes to their positions in DLTR. Capital International Investors lifted its holdings in shares of Dollar Tree by 30.1% during the 4th quarter. Capital International Investors now owns 10,581,632 shares of the company’s stock valued at $1,503,123,000 after acquiring an additional 2,445,827 shares in the last quarter. Norges Bank acquired a new position in shares of Dollar Tree during the 4th quarter valued at $333,373,000. FIL Ltd lifted its holdings in shares of Dollar Tree by 96.0% during the 4th 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 holdings in shares of Dollar Tree by 223.4% during the 1st 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, Mizuho Markets Americas LLC acquired a new position in shares of Dollar Tree during the 1st quarter valued at $99,862,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DLTR shares. TheStreet cut shares of Dollar Tree from a “b-” rating to a “c” rating in a research note on Wednesday, March 13th. Wells Fargo & Company dropped their price objective on shares of Dollar Tree from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Morgan Stanley decreased their target price on shares of Dollar Tree from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 6th. Gordon Haskett lowered shares of Dollar Tree from a “buy” rating to a “hold” rating and decreased their target price for the stock from $150.00 to $140.00 in a research report on Wednesday, April 3rd. Finally, Evercore ISI raised their target price on shares of Dollar Tree from $136.00 to $137.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.45.

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.