PNC Financial Services Group Inc. Sells 23,372 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

PNC Financial Services Group Inc. trimmed its holdings in Dollar Tree, Inc. (NASDAQ:DLTR) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 174,395 shares of the company’s stock after selling 23,372 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dollar Tree were worth $13,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Dollar Tree by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 232,455 shares of the company’s stock valued at $16,346,000 after acquiring an additional 1,485 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in shares of Dollar Tree during the third quarter valued at approximately $489,000. Atria Investments Inc increased its holdings in shares of Dollar Tree by 16.4% in the third quarter. Atria Investments Inc now owns 15,927 shares of the company’s stock valued at $1,120,000 after purchasing an additional 2,244 shares in the last quarter. Chartwell Investment Partners LLC raised its position in Dollar Tree by 46.5% in the 3rd quarter. Chartwell Investment Partners LLC now owns 28,169 shares of the company’s stock worth $1,981,000 after purchasing an additional 8,935 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Dollar Tree by 82.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,721 shares of the company’s stock worth $332,000 after buying an additional 2,127 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Dollar Tree Price Performance

Shares of DLTR opened at $65.69 on Wednesday. The stock has a 50 day simple moving average of $72.63 and a 200 day simple moving average of $71.29. Dollar Tree, Inc. has a 52-week low of $60.49 and a 52-week high of $150.74. 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 market capitalization of $14.12 billion, a PE ratio of -13.77, a P/E/G ratio of 2.16 and a beta of 0.91.

Analyst Ratings Changes

Several research firms have recently commented on DLTR. Jefferies Financial Group lifted their target price on Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Citigroup boosted their price objective on Dollar Tree from $64.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $72.00 target price (up previously from $67.00) on shares of Dollar Tree in a research note on Thursday, December 5th. Truist Financial boosted their price target on shares of Dollar Tree from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Guggenheim cut their price objective on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, December 6th. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.79.

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.