Dollar Tree (NASDAQ:DLTR) Price Target Cut to $64.00 by Analysts at Citigroup

Dollar Tree (NASDAQ:DLTR) had its price objective decreased by Citigroup from $120.00 to $64.00 in a research report report published on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research firms have also recently issued reports on DLTR. KeyCorp reduced their price objective on Dollar Tree from $145.00 to $84.00 and set an overweight rating for the company in a research report on Thursday. Loop Capital cut shares of Dollar Tree from a buy rating to a hold rating and set a $65.00 price objective for the company. in a research note on Thursday. JPMorgan Chase & Co. lowered shares of Dollar Tree from an overweight rating to a neutral rating and lowered their target price for the company from $111.00 to $70.00 in a research note on Wednesday. Morgan Stanley cut their target price on shares of Dollar Tree from $130.00 to $80.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Truist Financial decreased their price target on shares of Dollar Tree from $140.00 to $79.00 and set a buy rating for the company in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Dollar Tree presently has a consensus rating of Hold and a consensus target price of $97.63.

Dollar Tree Stock Up 7.7 %

Shares of Dollar Tree stock opened at $68.47 on Thursday. Dollar Tree has a 1 year low of $60.81 and a 1 year high of $151.21. The company has a market cap of $14.72 billion, a P/E ratio of -14.92, a P/E/G ratio of 0.93 and a beta of 0.87. 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 stock has a 50-day moving average price of $98.65 and a 200 day moving average price of $115.69.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). The company had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.49 billion. Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. Dollar Tree’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. As a group, analysts expect that Dollar Tree will post 6.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Aflatooni sold 827 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total value of $87,314.66. Following the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $1,026,765.50. The transaction 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Capital World Investors grew its holdings in shares of Dollar Tree by 2.8% in the 4th quarter. Capital World Investors now owns 17,608,690 shares of the company’s stock worth $2,501,314,000 after purchasing an additional 487,180 shares during the last quarter. Capital International Investors grew its stake in 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. FIL Ltd increased its holdings in shares of Dollar Tree by 96.0% during the fourth quarter. FIL Ltd now owns 3,197,638 shares of the company’s stock worth $454,224,000 after buying an additional 1,566,392 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of 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. Finally, Primecap Management Co. CA boosted its holdings in shares of Dollar Tree by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock worth $306,693,000 after acquiring an additional 957,275 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.