Fifth Third Bancorp Buys 3,873 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Fifth Third Bancorp boosted its position in Dollar Tree, Inc. (NASDAQ:DLTR) by 69.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,418 shares of the company’s stock after acquiring an additional 3,873 shares during the quarter. Fifth Third Bancorp’s holdings in Dollar Tree were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DLTR. Equity Investment Corp boosted its stake in Dollar Tree by 95.9% in 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 in the last quarter. Canoe Financial LP purchased a new stake in shares of Dollar Tree in the 3rd quarter valued at $46,576,000. State Street Corp grew its holdings in shares of Dollar Tree by 6.8% during the 3rd quarter. State Street Corp now owns 9,427,910 shares of the company’s stock valued at $662,971,000 after purchasing an additional 596,191 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Dollar Tree by 238.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 693,950 shares of the company’s stock worth $48,799,000 after purchasing an additional 489,074 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in Dollar Tree by 45.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 1,351,632 shares of the company’s stock worth $95,994,000 after purchasing an additional 425,245 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

DLTR has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Dollar Tree from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Evercore ISI reduced their price objective on shares of 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. Truist Financial raised their target price on shares of Dollar Tree from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. KeyCorp cut shares of Dollar Tree from an “overweight” rating to a “sector weight” rating in a research report on Thursday, November 7th. Finally, Piper Sandler restated a “neutral” rating and issued a $72.00 price objective (up from $67.00) on shares of Dollar Tree in a report on Thursday, December 5th. Seventeen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $85.58.

Dollar Tree Stock Down 1.0 %

NASDAQ DLTR opened at $74.20 on Thursday. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $151.21. 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 company has a market capitalization of $15.95 billion, a P/E ratio of -15.56, a price-to-earnings-growth ratio of 2.29 and a beta of 0.90. The stock’s 50-day moving average price is $72.04 and its 200-day moving average price is $77.21.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.45 billion. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. On average, equities research analysts predict that Dollar Tree, Inc. will post 5.39 earnings per share for the current year.

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.