Dollar Tree (NASDAQ:DLTR) Issues Earnings Results

Dollar Tree (NASDAQ:DLTR – Get Rating) announced its earnings results on Thursday. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.07), Briefing.com reports. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. Dollar Tree had a net margin of 5.70% and a return on equity of 19.19%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.37 earnings per share. Dollar Tree updated its Q2 guidance to $0.79-0.89 EPS and its FY24 guidance to $5.73-6.13 EPS.

Dollar Tree Trading Down 12.0 %

Shares of NASDAQ DLTR opened at $136.66 on Friday. The business’s 50 day moving average price is $149.96 and its 200-day moving average price is $148.59. The company has a market cap of $30.23 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 2.20 and a beta of 0.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.22 and a current ratio of 1.51. Dollar Tree has a fifty-two week low of $129.26 and a fifty-two week high of $175.68.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Davis purchased 1,790 shares of Dollar Tree stock in a transaction that occurred on Monday, March 27th. The shares were bought at an average price of $139.06 per share, with a total value of $248,917.40. Following the purchase, the chief financial officer now directly owns 15,006 shares of the company’s stock, valued at approximately $2,086,734.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Jeffrey A. Davis acquired 1,790 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The shares were bought at an average price of $139.06 per share, with a total value of $248,917.40. Following the completion of the purchase, the chief financial officer now directly owns 15,006 shares in the company, valued at $2,086,734.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard W. Dreiling bought 7,100 shares of the firm’s stock in a transaction on Thursday, March 9th. The shares were purchased at an average cost of $142.00 per share, with a total value of $1,008,200.00. Following the completion of the transaction, the chief executive officer now owns 7,118 shares in the company, valued at $1,010,756. The disclosure for this purchase can be found here. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its holdings in shares of Dollar Tree by 1.2% in the 1st quarter. Ameriprise Financial Inc. now owns 514,458 shares of the company’s stock valued at $73,847,000 after acquiring an additional 6,348 shares during the period. JPMorgan Chase & Co. grew its position in Dollar Tree by 34.5% during the 1st quarter. JPMorgan Chase & Co. now owns 437,578 shares of the company’s stock worth $62,814,000 after purchasing an additional 112,315 shares during the last quarter. Centaurus Financial Inc. increased its stake in Dollar Tree by 14.4% during the 1st quarter. Centaurus Financial Inc. now owns 1,101 shares of the company’s stock valued at $158,000 after purchasing an additional 139 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of Dollar Tree by 14,255.1% in the first quarter. Providence Capital Advisors LLC now owns 28,423 shares of the company’s stock worth $198,000 after buying an additional 28,225 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Dollar Tree by 43.3% during the first quarter. Thrivent Financial for Lutherans now owns 48,442 shares of the company’s stock worth $6,954,000 after buying an additional 14,647 shares during the period. 97.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DLTR shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of Dollar Tree in a research note on Thursday, March 2nd. Piper Sandler upped their price objective on Dollar Tree from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 28th. Truist Financial reduced their price objective on shares of Dollar Tree from $164.00 to $162.00 in a research report on Tuesday, May 9th. Barclays started coverage on shares of Dollar Tree in a research note on Tuesday, February 7th. They issued an “equal weight” rating and a $145.00 price target on the stock. Finally, JPMorgan Chase & Co. cut Dollar Tree from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $160.00 to $150.00 in a report on Thursday, March 2nd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.67.

Dollar Tree Company Profile

(Get Rating)

Dollar Tree, Inc owns and operates discount variety stores offering merchandise at fixed prices. It operates through the Dollar Tree and Family Dollar segments. The Dollar Tree segment includes operations under Dollar Tree and Dollar Tree Canada brands, with its distribution centers in the United States and Canada.