Dollar Tree (NASDAQ:DLTR) Given New $80.00 Price Target at Morgan Stanley

Dollar Tree (NASDAQ:DLTR) had its price target lowered by Morgan Stanley from $130.00 to $80.00 in a research note published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the stock.

DLTR has been the topic of several other reports. Citigroup cut Dollar Tree from a buy rating to a neutral rating and reduced their price objective for the company from $163.00 to $120.00 in a research note on Thursday, June 6th. Telsey Advisory Group reduced their price objective 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. KeyCorp reduced their price objective on Dollar Tree from $145.00 to $84.00 and set an overweight rating on the stock in a research note on Thursday. Loop Capital cut Dollar Tree from a buy rating to a hold rating and set a $65.00 price objective on the stock. in a research note on Thursday. Finally, Piper Sandler reduced their price objective on Dollar Tree from $112.00 to $67.00 and set a neutral rating on the stock in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $97.63.

Dollar Tree Trading Up 7.7 %

Shares of Dollar Tree stock opened at $68.47 on Thursday. Dollar Tree has a fifty-two week low of $60.81 and a fifty-two week high of $151.21. The stock has a 50 day moving average of $98.65 and a 200 day moving average of $115.69. The firm has a market capitalization of $14.72 billion, a price-to-earnings ratio of -14.92, a PEG ratio of 0.93 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.23 and a current ratio of 1.28.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 EPS 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 firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts predict that Dollar Tree will post 6.46 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert Aflatooni sold 827 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,026,765.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Dollar Tree

A number of hedge funds and other institutional investors have recently made changes to their positions in DLTR. Capital International Investors grew its holdings in shares of 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 buying an additional 2,445,827 shares during the last quarter. Norges Bank purchased a new stake in Dollar Tree in the 4th quarter valued at approximately $333,373,000. FIL Ltd boosted its holdings in Dollar Tree by 96.0% in the 4th quarter. FIL Ltd now owns 3,197,638 shares of the company’s stock valued at $454,224,000 after purchasing an additional 1,566,392 shares in the last quarter. National Bank of Canada FI boosted its holdings in Dollar Tree by 223.4% in 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 purchasing an additional 977,313 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Dollar Tree by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock valued at $306,693,000 after purchasing 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.