Dollar Tree, Inc. (NASDAQ:DLTR) Sees Significant Decrease in Short Interest

Dollar Tree, Inc. (NASDAQ:DLTR) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 11,770,000 shares, a drop of 11.4% from the September 15th total of 13,290,000 shares. Based on an average trading volume of 4,040,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 5.5% of the shares of the company are sold short.

Dollar Tree Trading Down 0.2 %

DLTR traded down $0.14 during midday trading on Thursday, reaching $67.88. 489,826 shares of the company were exchanged, compared to its average volume of 3,176,190. The stock has a market capitalization of $14.59 billion, a P/E ratio of -14.82, a PEG ratio of 2.95 and a beta of 0.86. Dollar Tree has a one year low of $60.81 and a one year high of $151.21. The stock’s 50-day simple moving average is $78.85 and its 200 day simple moving average is $101.51. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.17 and a current ratio of 1.02.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a positive return on equity of 15.77% and a negative net margin of 3.44%. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that Dollar Tree will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DLTR has been the topic of a number of research reports. BMO Capital Markets lowered shares of Dollar Tree from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $68.00 in a research report on Thursday, September 5th. Barclays dropped their price objective on shares of Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. KeyCorp decreased their target price on Dollar Tree from $145.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Truist Financial reduced their price objective on Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group lowered their price objective on Dollar Tree from $145.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Dollar Tree has a consensus rating of “Hold” and an average price target of $88.00.

Insider Buying and Selling

In other news, Director Daniel J. Heinrich purchased 2,200 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $68.27 per share, for a total transaction of $150,194.00. Following the completion of the acquisition, the director now directly owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Dollar Tree

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strategic Financial Concepts LLC acquired a new stake in shares of Dollar Tree in the 2nd quarter valued at about $26,000. Register Financial Advisors LLC acquired a new stake in Dollar Tree in the 1st quarter valued at approximately $28,000. Mather Group LLC. lifted its stake in Dollar Tree by 198.9% in the 2nd quarter. Mather Group LLC. now owns 281 shares of the company’s stock valued at $30,000 after acquiring an additional 187 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Dollar Tree during the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. raised its holdings in shares of Dollar Tree by 174.5% in the second quarter. Blue Trust Inc. now owns 431 shares of the company’s stock valued at $46,000 after purchasing an additional 274 shares during 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.