Wells Fargo & Company Cuts Dollar Tree (NASDAQ:DLTR) Price Target to $85.00

Dollar Tree (NASDAQ:DLTR) had its price target trimmed by Wells Fargo & Company from $100.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on DLTR. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price target on shares of Dollar Tree in a report on Thursday. Jefferies Financial Group boosted their target price on shares of Dollar Tree from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Loop Capital raised their target price on shares of Dollar Tree from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Truist Financial lifted their price target on shares of Dollar Tree from $79.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, BMO Capital Markets increased their price objective on shares of Dollar Tree from $65.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, December 5th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.79.

Dollar Tree Price Performance

Shares of Dollar Tree stock opened at $68.99 on Friday. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of -14.46, a PEG ratio of 2.16 and a beta of 0.91. 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 stock’s 50-day simple moving average is $72.96 and its 200-day simple moving average is $71.73. Dollar Tree has a 52 week low of $60.49 and a 52 week high of $150.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of Dollar Tree by 382.7% in the 4th 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 last quarter. Marshall Wace LLP lifted its stake in Dollar Tree by 784.2% in the fourth 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 last quarter. Balyasny Asset Management L.P. lifted its stake in 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 during the fourth quarter valued at approximately $171,149,000. Finally, Capital International Investors grew its stake in shares of Dollar Tree by 30.1% during the fourth quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock valued at $656,000,000 after buying an additional 2,023,819 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.