PNC Financial Services Group Inc. Cuts Stake in Dollar Tree, Inc. (NASDAQ:DLTR)

PNC Financial Services Group Inc. cut its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 14.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,767 shares of the company’s stock after selling 34,498 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dollar Tree were worth $13,907,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DLTR. Primecap Management Co. CA lifted its position in shares of Dollar Tree by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock worth $306,693,000 after purchasing an additional 957,275 shares during the period. Renaissance Technologies LLC raised its stake in Dollar Tree by 488.4% in the second quarter. Renaissance Technologies LLC now owns 1,044,595 shares of the company’s stock worth $111,531,000 after buying an additional 867,054 shares in the last quarter. Equity Investment Corp lifted its holdings in Dollar Tree by 95.9% during the third quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock worth $107,264,000 after buying an additional 746,913 shares during the period. Point72 Asset Management L.P. boosted its position in Dollar Tree by 165.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,028,411 shares of the company’s stock valued at $109,803,000 after acquiring an additional 640,848 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in shares of Dollar Tree in the 3rd quarter valued at $46,576,000. 97.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dollar Tree

In other news, Director Daniel J. Heinrich acquired 2,200 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $68.27 per share, with a total value of $150,194.00. Following the completion of the acquisition, the director now owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. This represents a 28.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Dollar Tree Stock Up 1.0 %

DLTR stock opened at $66.40 on Friday. The company has a market capitalization of $14.28 billion, a P/E ratio of -13.61, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. Dollar Tree, Inc. has a 12 month low of $60.49 and a 12 month high of $151.21. The firm’s fifty day simple moving average is $67.75 and its 200-day simple moving average is $90.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.02 and a quick ratio of 0.17.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). The business had revenue of $7.37 billion during the quarter, compared to analysts’ expectations of $7.49 billion. Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. Dollar Tree’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, equities research analysts forecast that Dollar Tree, Inc. will post 5.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DLTR has been the topic of a number of recent research reports. Evercore ISI dropped their price objective on Dollar Tree from $105.00 to $100.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 22nd. Citigroup lowered their price target on shares of Dollar Tree from $120.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company reduced their price objective on shares of Dollar Tree from $130.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Truist Financial lowered their target price on shares of Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, BMO Capital Markets reduced their price target on Dollar Tree from $68.00 to $65.00 and set a “market perform” rating on the stock in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Dollar Tree currently has an average rating of “Hold” and a consensus price target of $87.95.

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.