Dollar Tree (NASDAQ:DLTR) Sees Large Volume Increase – Still a Buy?

Shares of Dollar Tree, Inc. (NASDAQ:DLTR) saw unusually-high trading volume on Wednesday . Approximately 4,965,113 shares changed hands during trading, an increase of 46% from the previous session’s volume of 3,392,155 shares.The stock last traded at $70.24 and had previously closed at $67.14.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $72.00 price objective (up previously from $67.00) on shares of Dollar Tree in a research note on Thursday, December 5th. Truist Financial decreased their price target on Dollar Tree from $83.00 to $76.00 and set a “buy” rating for the company in a research note on Tuesday. Loop Capital lifted their price objective on Dollar Tree from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI decreased their target price on shares of Dollar Tree from $94.00 to $92.00 and set an “in-line” rating for the company in a research report on Tuesday, December 3rd. Finally, Guggenheim dropped their price target 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. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Dollar Tree currently has a consensus rating of “Hold” and an average target price of $83.89.

Dollar Tree Stock Up 2.9 %

The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03. The stock has a 50-day moving average of $71.06 and a two-hundred day moving average of $70.13. The company has a market cap of $14.85 billion, a P/E ratio of -14.48, a P/E/G ratio of 2.16 and a beta of 0.91.

Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($0.07). Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. On average, research analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Dollar Tree

Hedge funds have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its position in Dollar Tree by 382.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company’s stock valued at $488,974,000 after purchasing an additional 5,173,238 shares during the period. Marshall Wace LLP boosted its stake in Dollar Tree by 784.2% in the 4th quarter. Marshall Wace LLP now owns 4,377,366 shares of the company’s stock worth $328,040,000 after purchasing an additional 3,882,324 shares during the period. Balyasny Asset Management L.P. increased its holdings in shares of Dollar Tree by 2,489.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,621,456 shares of the company’s stock worth $196,452,000 after purchasing an additional 2,520,237 shares during the last quarter. Norges Bank purchased a new position in shares of Dollar Tree in the 4th quarter worth $171,149,000. Finally, Capital International Investors increased its position in shares of Dollar Tree by 30.1% during the 4th quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock valued at $656,000,000 after purchasing an additional 2,023,819 shares during 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.