Short Interest in Dollar Tree, Inc. (NASDAQ:DLTR) Decreases By 11.2%

Dollar Tree, Inc. (NASDAQ:DLTR) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 6,068,600 shares, a drop of 11.2% from the May 30th total of 6,835,600 shares. Based on an average daily volume of 2,060,000 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.6% of the company’s shares are short sold.

In related news, Director Thomas A. Saunders sold 1,000 shares of Dollar Tree stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $112.37, for a total value of $112,370.00. Following the completion of the sale, the director now directly owns 2,379,315 shares in the company, valued at $267,363,626.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua R. Jewett sold 3,632 shares of Dollar Tree stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $101.67, for a total value of $369,265.44. Following the completion of the sale, the insider now owns 6,262 shares of the company’s stock, valued at $636,657.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,403 shares of company stock valued at $9,260,558. Corporate insiders own 1.40% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Zions Bancorporation N.A. acquired a new position in Dollar Tree in the first quarter valued at $92,000. Belpointe Asset Management LLC increased its stake in Dollar Tree by 28.4% in the first quarter. Belpointe Asset Management LLC now owns 1,620 shares of the company’s stock valued at $171,000 after purchasing an additional 358 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Dollar Tree by 7.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,912 shares of the company’s stock valued at $1,461,000 after purchasing an additional 930 shares during the last quarter. Capital Insight Partners LLC increased its stake in Dollar Tree by 0.8% in the first quarter. Capital Insight Partners LLC now owns 16,638 shares of the company’s stock valued at $1,748,000 after purchasing an additional 130 shares during the last quarter. Finally, ETF Managers Group LLC increased its stake in Dollar Tree by 639.1% in the first quarter. ETF Managers Group LLC now owns 10,140 shares of the company’s stock valued at $1,065,000 after purchasing an additional 8,768 shares during the last quarter. 94.47% of the stock is owned by hedge funds and other institutional investors.

DLTR has been the topic of a number of recent research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $17.00 target price (down previously from $20.00) on shares of Michaels Companies in a research report on Wednesday, March 20th. Credit Suisse Group reduced their target price on from GBX 145 ($1.89) to GBX 105 ($1.37) and set a “neutral” rating for the company in a research note on Friday, June 21st. Jefferies Financial Group upped their target price on Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Intel in a research note on Tuesday, June 11th. Finally, Evercore ISI began coverage on Polarityte in a research note on Wednesday, March 20th. They set an “outperform” rating and a $26.00 target price for the company. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Dollar Tree has an average rating of “Buy” and an average target price of $104.24.

Shares of Dollar Tree stock traded up $1.46 during trading on Friday, reaching $112.43. The company’s stock had a trading volume of 1,209,261 shares, compared to its average volume of 2,225,824. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 1.45. Dollar Tree has a 12-month low of $78.78 and a 12-month high of $113.38. The firm has a market capitalization of $26.54 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.15 and a beta of 0.53. The business’s 50 day simple moving average is $106.05.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Thursday, May 30th. The company reported $1.14 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.14. Dollar Tree had a positive return on equity of 19.13% and a negative net margin of 6.43%. The firm had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the previous year, the business earned $1.19 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts predict that Dollar Tree will post 5.2 EPS for the current fiscal year.

About Dollar Tree

Dollar Tree, Inc operates discount variety retail stores. It operates through two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $1.00. It provides consumable merchandise, including candy and food, and health and beauty care, as well as everyday consumables, such as household paper and chemicals, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, and other items; and seasonal goods that include Valentine's Day, Easter, Halloween, and Christmas merchandise.

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