Dollar Tree (NASDAQ:DLTR) Trading Down 5.6% - Here's What Happened

Dollar Tree, Inc. (NASDAQ:DLTR - Get Free Report)'s share price dropped 5.6% on Wednesday . The company traded as low as $62.76 and last traded at $62.02. Approximately 2,806,359 shares were traded during trading, a decline of 19% from the average daily volume of 3,448,259 shares. The stock had previously closed at $65.69.

Analysts Set New Price Targets

DLTR has been the topic of a number of research reports. Truist Financial increased their price target on Dollar Tree from $79.00 to $83.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price target on Dollar Tree from $100.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Evercore ISI lowered their target price on Dollar Tree from $94.00 to $92.00 and set an "in-line" rating on the stock in a research report on Tuesday, December 3rd. StockNews.com upgraded Dollar Tree from a "sell" rating to a "hold" rating in a research report on Thursday, December 5th. Finally, Guggenheim lowered their target price on 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Dollar Tree currently has an average rating of "Hold" and a consensus price target of $84.79.

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Dollar Tree Trading Down 2.2 %

The firm has a market capitalization of $13.88 billion, a P/E ratio of -13.53, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. 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 firm has a 50 day moving average price of $71.99 and a two-hundred day moving average price of $70.80.

Institutional Trading of Dollar Tree

Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. boosted its position in shares of Dollar Tree by 74.1% in the fourth quarter. Assetmark Inc. now owns 350 shares of the company's stock worth $26,000 after buying an additional 149 shares during the period. Bessemer Group Inc. boosted its position in shares of Dollar Tree by 34,600.0% in the fourth quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after buying an additional 346 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Dollar Tree in the fourth quarter worth $30,000. Parkside Financial Bank & Trust boosted its position in shares of Dollar Tree by 120.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 424 shares of the company's stock worth $32,000 after buying an additional 232 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Dollar Tree by 91.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 440 shares of the company's stock worth $33,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds 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.