Dollar Tree, Inc. (NASDAQ:DLTR) Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. reduced its holdings in Dollar Tree by 10.2%, selling 17,779 shares, while still owning a total of 156,616 shares valued at approximately $11.76 million.
• Dollar Tree recently initiated a $2.5 billion stock buyback program, indicating confidence from its leadership that the stock is undervalued.
• Analyst ratings for Dollar Tree are mixed, with an average rating of "Hold" and a target price of $97.74, reflecting varied expectations among financial professionals.

PNC Financial Services Group Inc. cut its position in Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) by 10.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,616 shares of the company's stock after selling 17,779 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Dollar Tree worth $11,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. lifted its position in shares of Dollar Tree by 34,600.0% during the fourth quarter. Bessemer Group Inc. now owns 347 shares of the company's stock worth $26,000 after purchasing an additional 346 shares in the last quarter. CX Institutional purchased a new stake in Dollar Tree during the 1st quarter worth approximately $43,000. Sentry Investment Management LLC acquired a new stake in Dollar Tree during the 1st quarter worth approximately $48,000. GeoWealth Management LLC acquired a new stake in Dollar Tree during the 4th quarter worth approximately $61,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Dollar Tree by 121.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 974 shares of the company's stock valued at $73,000 after buying an additional 534 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Insiders Place Their Bets

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the completion of the sale, the chief marketing officer directly owned 50,419 shares in the company, valued at $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BMO Capital Markets increased their price target on Dollar Tree from $80.00 to $85.00 and gave the company a "market perform" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. lifted their target price on Dollar Tree from $111.00 to $138.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Guggenheim reissued a "buy" rating and set a $100.00 price objective on shares of Dollar Tree in a research report on Thursday, June 5th. Evercore ISI upped their price target on Dollar Tree from $92.00 to $94.00 and gave the stock an "in-line" rating in a research note on Tuesday, June 24th. Finally, Truist Financial boosted their target price on Dollar Tree from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, June 2nd. Two equities 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 company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $97.74.

Dollar Tree Stock Performance

Dollar Tree stock opened at $115.66 on Wednesday. Dollar Tree, Inc. has a fifty-two week low of $60.49 and a fifty-two week high of $116.50. The company has a market capitalization of $24.14 billion, a price-to-earnings ratio of -8.34, a PEG ratio of 2.48 and a beta of 0.88. The stock has a fifty day moving average of $103.03 and a two-hundred day moving average of $85.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.05. Dollar Tree had a positive return on equity of 19.36% and a negative net margin of 12.15%. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same quarter last year, the company earned $1.43 earnings per share. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts anticipate that Dollar Tree, Inc. will post 5.39 EPS for the current fiscal year.

Dollar Tree announced that its board has initiated a stock repurchase program on Wednesday, July 9th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the company to purchase up to 11.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Dollar Tree Profile

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.

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