Dollar Tree (NASDAQ:DLTR) Downgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Dollar Tree (NASDAQ:DLTR) from an overweight rating to a neutral rating in a report published on Wednesday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $70.00 price target on the stock, down from their prior price target of $111.00.

Several other brokerages have also weighed in on DLTR. Truist Financial cut their price objective on Dollar Tree from $147.00 to $140.00 and set a buy rating for the company in a report on Thursday, June 6th. BMO Capital Markets reduced their price objective on shares of Dollar Tree from $150.00 to $145.00 and set an outperform rating for the company in a research report on Thursday, June 6th. UBS Group lowered their price objective on shares of Dollar Tree from $170.00 to $155.00 and set a buy rating on the stock in a research note on Friday, June 28th. Telsey Advisory Group cut their target price on shares of Dollar Tree from $155.00 to $120.00 and set an outperform rating for the company in a research note on Friday, August 30th. Finally, Morgan Stanley decreased their price target 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. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $133.22.

Dollar Tree Stock Performance

Shares of DLTR opened at $63.56 on Wednesday. The firm has a market capitalization of $13.66 billion, a PE ratio of -13.85, a P/E/G ratio of 0.93 and a beta of 0.88. The company has a quick ratio of 0.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $99.39 and a 200 day moving average price of $116.02. Dollar Tree has a 52-week low of $60.81 and a 52-week high of $151.21.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.38). Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts anticipate that Dollar Tree will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Dollar Tree

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of Dollar Tree 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 completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $1,026,765.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Dollar Tree

A number of institutional investors have recently bought and sold shares of DLTR. Dorsal Capital Management LP purchased a new stake in shares of Dollar Tree during the 4th quarter worth about $35,512,000. Wellington Management Group LLP lifted its stake in Dollar Tree by 2.6% in the fourth quarter. Wellington Management Group LLP now owns 2,881,772 shares of the company’s stock valued at $409,356,000 after acquiring an additional 73,588 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Dollar Tree by 92.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 146,614 shares of the company’s stock worth $20,826,000 after acquiring an additional 70,478 shares in the last quarter. Bridgefront Capital LLC increased its stake in shares of Dollar Tree by 62.5% during the 4th quarter. Bridgefront Capital LLC now owns 4,918 shares of the company’s stock worth $699,000 after purchasing an additional 1,892 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Dollar Tree by 1.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 43,671 shares of the company’s stock valued at $6,203,000 after purchasing an additional 743 shares in the last quarter. Institutional investors and hedge funds 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.