Short Interest in Dollar Tree, Inc. (NASDAQ:DLTR) Rises By 14.8%

Dollar Tree, Inc. (NASDAQ:DLTR) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 10,990,000 shares, a growth of 14.8% from the December 31st total of 9,570,000 shares. Approximately 5.1% of the shares of the stock are sold short. Based on an average daily volume of 4,030,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

DLTR has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on Dollar Tree from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price objective on shares of Dollar Tree from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Piper Sandler reaffirmed a “neutral” rating and set a $72.00 target price (up previously from $67.00) on shares of Dollar Tree in a report on Thursday, December 5th. Guggenheim decreased their target price on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, December 6th. Finally, Truist Financial upped their price target on shares of Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Seventeen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.58.

Dollar Tree Stock Performance

NASDAQ:DLTR opened at $73.35 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $72.58 and its 200 day simple moving average is $76.95. The stock has a market cap of $15.77 billion, a P/E ratio of -15.38, a price-to-earnings-growth ratio of 2.36 and a beta of 0.90. Dollar Tree has a twelve month low of $60.49 and a twelve month high of $151.21.

Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Wednesday, December 4th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The firm had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.45 billion. During the same quarter in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts predict that Dollar Tree will post 5.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Equity Investment Corp grew its stake in Dollar Tree by 95.9% in the third quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock worth $107,264,000 after purchasing an additional 746,913 shares during the period. Canoe Financial LP bought a new stake in shares of Dollar Tree during the 3rd quarter valued at $46,576,000. State Street Corp grew its position in shares of Dollar Tree by 6.8% in the 3rd quarter. State Street Corp now owns 9,427,910 shares of the company’s stock worth $662,971,000 after buying an additional 596,191 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Dollar Tree by 238.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 693,950 shares of the company’s stock worth $48,799,000 after buying an additional 489,074 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in shares of Dollar Tree by 45.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 1,351,632 shares of the company’s stock worth $95,994,000 after acquiring an additional 425,245 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

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.