Dollar Tree (NASDAQ:DLTR) Given New $138.00 Price Target at JPMorgan Chase & Co.

Dollar Tree (NASDAQ:DLTR) had its target price hoisted by JPMorgan Chase & Co. from $111.00 to $138.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on the company. Sanford C. Bernstein set a $82.00 price target on Dollar Tree and gave the company a “market perform” rating in a research report on Monday, May 5th. Bank of America dropped their price objective on Dollar Tree from $75.00 to $70.00 and set an “underperform” rating for the company in a research note on Tuesday, April 8th. Barclays upgraded Dollar Tree from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $95.00 to $138.00 in a research report on Monday. Evercore ISI boosted their price target on Dollar Tree from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 24th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $95.00 target price on shares of Dollar Tree in a report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $96.42.

Dollar Tree Trading Up 2.0%

Shares of NASDAQ:DLTR opened at $112.31 on Monday. Dollar Tree has a twelve month low of $60.49 and a twelve month high of $113.46. The company has a current ratio of 1.04, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The firm has a market cap of $23.44 billion, a P/E ratio of -8.10, a P/E/G ratio of 2.36 and a beta of 0.86. The company has a 50 day moving average of $96.67 and a 200-day moving average of $81.59.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. The company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. As a group, analysts anticipate that Dollar Tree will post 5.39 earnings per share for the current fiscal year.

Dollar Tree announced that its board has approved a stock repurchase program on Wednesday, July 9th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 11.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $94.62, for a total value of $1,989,480.12. Following the sale, the chief marketing officer directly owned 50,419 shares of the company’s stock, valued at $4,770,645.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Dollar Tree

Several large investors have recently made changes to their positions in DLTR. Vanguard Group Inc. grew its holdings in Dollar Tree by 1.7% during the first quarter. Vanguard Group Inc. now owns 23,839,718 shares of the company’s stock valued at $1,789,648,000 after purchasing an additional 389,490 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Dollar Tree by 0.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,994,978 shares of the company’s stock worth $750,323,000 after buying an additional 74,230 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Dollar Tree by 21.4% during the 1st quarter. EdgePoint Investment Group Inc. now owns 9,641,507 shares of the company’s stock valued at $723,788,000 after buying an additional 1,701,344 shares in the last quarter. Capital International Investors raised its position in Dollar Tree by 30.1% in the 4th quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock worth $656,000,000 after purchasing an additional 2,023,819 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in shares of 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 worth $488,974,000 after acquiring an additional 5,173,238 shares during the period. 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.