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

JPMorgan Chase & Co. upgraded shares of Dollar Tree (NASDAQ:DLTR) from a neutral rating to an overweight rating in a research note published on Thursday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $111.00 price target on the stock, up from their previous price target of $72.00.

A number of other equities analysts have also recently commented on the company. Citigroup upgraded Dollar Tree from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $103.00 in a report on Monday, April 7th. Telsey Advisory Group reiterated a “market perform” rating and set a $95.00 price target on shares of Dollar Tree in a report on Wednesday. UBS Group lifted their price target on Dollar Tree from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Truist Financial lifted their price target on Dollar Tree from $89.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, June 2nd. Finally, Sanford C. Bernstein set a $82.00 price objective on shares of Dollar Tree and gave the stock a “market perform” rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.26.

Dollar Tree Trading Down 2.2%

Dollar Tree stock opened at $94.50 on Thursday. Dollar Tree has a 52 week low of $60.49 and a 52 week high of $111.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03. The stock has a market capitalization of $20.33 billion, a P/E ratio of -19.81, a PEG ratio of 2.16 and a beta of 0.84. The stock has a 50-day simple moving average of $82.48 and a 200 day simple moving average of $75.42.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The business had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.52 billion. During the same quarter last year, the company posted $1.43 earnings per share. Dollar Tree’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that Dollar Tree will post 5.39 earnings per share for the current year.

Insider Activity

In other Dollar Tree news, Director William W. Douglas III purchased 701 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was bought at an average cost of $75.00 per share, for a total transaction of $52,575.00. Following the completion of the transaction, the director now owns 1,377 shares in the company, valued at approximately $103,275. This represents a 103.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Aditya Maheshwari sold 1,238 shares of Dollar Tree stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $74.70, for a total transaction of $92,478.60. Following the completion of the sale, the chief accounting officer now owns 4,231 shares of the company’s stock, valued at approximately $316,055.70. The trade was a 22.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Horizon Investments LLC increased its stake in Dollar Tree by 5.1% in the first quarter. Horizon Investments LLC now owns 2,905 shares of the company’s stock valued at $218,000 after acquiring an additional 140 shares during the last quarter. Assetmark Inc. increased its stake in Dollar Tree by 74.1% in the fourth quarter. Assetmark Inc. now owns 350 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in Dollar Tree by 20.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 907 shares of the company’s stock valued at $68,000 after acquiring an additional 157 shares during the last quarter. Brooklyn Investment Group increased its stake in Dollar Tree by 79.0% in the first quarter. Brooklyn Investment Group now owns 358 shares of the company’s stock valued at $27,000 after acquiring an additional 158 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Dollar Tree by 11.6% in the first quarter. Private Trust Co. NA now owns 1,527 shares of the company’s stock valued at $115,000 after acquiring an additional 159 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

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.