JPMorgan Chase & Co. Lowers Dollar Tree (NASDAQ:DLTR) to Neutral

JPMorgan Chase & Co. cut shares of Dollar Tree (NASDAQ:DLTR) from an overweight rating to a neutral rating in a research note issued to investors on Wednesday morning, MarketBeat.com reports. JPMorgan Chase & Co. currently has $70.00 price objective on the stock, down from their previous price objective of $111.00.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company cut their price target on Dollar Tree from $160.00 to $130.00 and set an overweight rating for the company in a report on Tuesday, August 27th. UBS Group cut their price target on Dollar Tree from $170.00 to $155.00 and set a buy rating for the company in a report on Friday, June 28th. Evercore ISI raised their target price on Dollar Tree from $136.00 to $137.00 and gave the stock an in-line rating in a research note on Thursday, June 20th. BMO Capital Markets cut their target price on Dollar Tree from $150.00 to $145.00 and set an outperform rating for the company in a research note on Thursday, June 6th. Finally, Truist Financial cut their target price on Dollar Tree from $147.00 to $140.00 and set a buy rating for the company in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Dollar Tree currently has an average rating of Hold and a consensus price target of $95.00.

Dollar Tree Stock Performance

NASDAQ DLTR opened at $66.50 on Wednesday. The company has a market cap of $14.29 billion, a PE ratio of -14.49, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The stock’s 50 day simple moving average is $97.85 and its 200-day simple moving average is $115.16. Dollar Tree has a 1-year low of $60.81 and a 1-year high of $151.21. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.23.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.23% and a positive return on equity of 15.67%. 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 business posted $0.91 EPS. Dollar Tree’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Dollar Tree will post 6.46 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors boosted its holdings in Dollar Tree by 2.8% in the fourth quarter. Capital World Investors now owns 17,608,690 shares of the company’s stock valued at $2,501,314,000 after purchasing an additional 487,180 shares during the period. Capital International Investors boosted its holdings in Dollar Tree by 30.1% in the fourth quarter. Capital International Investors now owns 10,581,632 shares of the company’s stock valued at $1,503,123,000 after purchasing an additional 2,445,827 shares during the period. FIL Ltd boosted its holdings in Dollar Tree by 96.0% in the fourth quarter. FIL Ltd now owns 3,197,638 shares of the company’s stock valued at $454,224,000 after purchasing an additional 1,566,392 shares during the period. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 73,588 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in Dollar Tree by 50.0% in the second quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock valued at $306,693,000 after purchasing an additional 957,275 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.