Short Interest in Dollar Tree, Inc. (NASDAQ:DLTR) Expands By 5.4%

Dollar Tree, Inc. (NASDAQ:DLTR) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 12,050,000 shares, an increase of 5.4% from the October 15th total of 11,430,000 shares. Based on an average daily volume of 4,620,000 shares, the days-to-cover ratio is presently 2.6 days. Approximately 5.6% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

DLTR has been the subject of several recent research reports. Telsey Advisory Group lowered shares of Dollar Tree from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $95.00 to $75.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Dollar Tree from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Redburn Atlantic raised Dollar Tree to a “hold” rating in a report on Monday, September 23rd. Truist Financial reduced their target price on shares of Dollar Tree from $140.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, The Goldman Sachs Group cut their price target on Dollar Tree from $145.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.95.

Insider Buying and Selling

In related news, Director Daniel J. Heinrich acquired 2,200 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $68.27 per share, with a total value of $150,194.00. Following the completion of the transaction, the director now owns 9,823 shares in the company, valued at approximately $670,616.21. The trade was a 28.86 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Dollar Tree

Large investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Dollar Tree by 6.8% in the third quarter. State Street Corp now owns 9,427,910 shares of the company’s stock valued at $662,971,000 after acquiring an additional 596,191 shares during the period. EdgePoint Investment Group Inc. increased its holdings in Dollar Tree by 0.5% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 6,939,526 shares of the company’s stock worth $487,987,000 after purchasing an additional 35,862 shares in the last quarter. Primecap Management Co. CA grew its position in Dollar Tree by 5.5% in the third quarter. Primecap Management Co. CA now owns 3,030,845 shares of the company’s stock valued at $213,129,000 after purchasing an additional 158,385 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Dollar Tree by 14.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,837,433 shares of the company’s stock worth $377,804,000 after purchasing an additional 348,442 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Dollar Tree by 5.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,492,814 shares of the company’s stock worth $266,124,000 after purchasing an additional 138,042 shares during the period. Institutional investors own 97.40% of the company’s stock.

Dollar Tree Stock Performance

Shares of DLTR traded down $1.66 during mid-day trading on Tuesday, reaching $64.87. 3,210,030 shares of the company’s stock were exchanged, compared to its average volume of 3,399,205. Dollar Tree has a 52-week low of $60.49 and a 52-week high of $151.21. The business’s fifty day simple moving average is $67.93 and its 200-day simple moving average is $91.62. The stock has a market capitalization of $13.95 billion, a PE ratio of -13.42, a price-to-earnings-growth ratio of 2.54 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.17.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.49 billion. During the same quarter in the prior year, the firm earned $0.91 earnings per share. Dollar Tree’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts expect that Dollar Tree will post 5.35 earnings per share for the current year.

Dollar Tree Company Profile

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.