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

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Dollar Tree from $152.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. TheStreet cut shares of Dollar Tree from a “b-” rating to a “c” rating in a report on Wednesday, March 13th. Piper Sandler dropped their price objective on shares of Dollar Tree from $168.00 to $143.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. UBS Group dropped their price objective on shares of Dollar Tree from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Morgan Stanley dropped their price objective on shares of Dollar Tree from $135.00 to $130.00 and set an “equal weight” rating on the stock in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.45.

Insiders Place Their Bets

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of the stock in a transaction 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 sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $1,026,765.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Dollar Tree by 18.4% in the second quarter. GAMMA Investing LLC now owns 2,978 shares of the company’s stock worth $318,000 after buying an additional 463 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Dollar Tree by 29.3% in the first quarter. EverSource Wealth Advisors LLC now owns 486 shares of the company’s stock worth $65,000 after buying an additional 110 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Dollar Tree by 119.7% in the first quarter. Cetera Advisors LLC now owns 3,234 shares of the company’s stock worth $431,000 after buying an additional 1,762 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Dollar Tree by 203.5% in the first quarter. Cetera Investment Advisers now owns 12,596 shares of the company’s stock worth $1,677,000 after buying an additional 8,446 shares during the period. Finally, Burney Co. boosted its holdings in shares of Dollar Tree by 1.4% in the first quarter. Burney Co. now owns 9,598 shares of the company’s stock worth $1,278,000 after buying an additional 131 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Dollar Tree Stock Performance

NASDAQ:DLTR opened at $107.11 on Wednesday. Dollar Tree has a twelve month low of $101.85 and a twelve month high of $154.96. The company has a current ratio of 1.28, a quick ratio of 0.23 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $114.48 and a 200-day moving average of $128.33. The firm has a market cap of $23.02 billion, a price-to-earnings ratio of -23.34, a price-to-earnings-growth ratio of 1.14 and a beta of 0.88.

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

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.