PNC Financial Services Group Inc. Decreases Stake in Dollar Tree, Inc. (DLTR)

PNC Financial Services Group Inc. decreased its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 2.9% during the first quarter, Holdings Channel reports. The fund owned 450,834 shares of the company’s stock after selling 13,435 shares during the period. PNC Financial Services Group Inc.’s holdings in Dollar Tree were worth $35,373,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Dollar Tree by 888.9% in the first quarter. Nordea Investment Management AB now owns 2,057,360 shares of the company’s stock valued at $161,420,000 after buying an additional 1,849,314 shares during the last quarter. Norges Bank purchased a new stake in shares of Dollar Tree during the fourth quarter valued at approximately $127,808,000. FMR LLC boosted its stake in shares of Dollar Tree by 9.3% in the fourth quarter. FMR LLC now owns 11,334,484 shares of the company’s stock valued at $874,795,000 after buying an additional 966,210 shares during the last quarter. CI Global Investments Inc. boosted its stake in shares of Dollar Tree by 186.3% in the first quarter. CI Global Investments Inc. now owns 900,541 shares of the company’s stock valued at $70,656,000 after buying an additional 586,012 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Dollar Tree during the fourth quarter valued at approximately $36,333,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Institutional Ownership by Quarter for Dollar Tree (NASDAQ:DLTR)

Shares of Dollar Tree, Inc. (NASDAQ:DLTR) traded down 2.91% during midday trading on Thursday, hitting $73.08. The stock had a trading volume of 342,253 shares. The stock has a 50 day moving average of $79.52 and a 200-day moving average of $79.02. The company has a market cap of $17.30 billion, a P/E ratio of 20.02 and a beta of 0.67. Dollar Tree, Inc. has a one year low of $72.34 and a one year high of $99.93.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Thursday, May 25th. The company reported $0.98 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. Dollar Tree had a return on equity of 14.62% and a net margin of 3.79%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Dollar Tree, Inc. will post $4.47 EPS for the current fiscal year.

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Several analysts recently commented on DLTR shares. Credit Suisse Group upgraded Dollar Tree from an “underperform” rating to a “neutral” rating and set a $73.00 price target for the company in a research report on Thursday, March 23rd. Deutsche Bank AG restated a “buy” rating and issued a $95.00 target price on shares of Dollar Tree in a report on Thursday, April 6th. Royal Bank Of Canada set a $95.00 target price on Dollar Tree and gave the company a “buy” rating in a report on Monday, April 3rd. Atlantic Securities upgraded Dollar Tree from an “underweight” rating to a “neutral” rating in a report on Tuesday, April 4th. They noted that the move was a valuation call. Finally, Johnson Rice upgraded Dollar Tree from an “accumulate” rating to a “buy” rating in a report on Monday, April 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $86.68.

In related news, insider Robert H. Rudman sold 2,616 shares of the business’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $73.39, for a total value of $191,988.24. Following the transaction, the insider now owns 4,998 shares in the company, valued at $366,803.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Bob Sasser sold 3,349 shares of the business’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $80.02, for a total value of $267,986.98. Following the completion of the transaction, the chief executive officer now owns 61,721 shares in the company, valued at approximately $4,938,914.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,284 shares of company stock worth $4,349,237. Insiders own 2.90% of the company’s stock.

About Dollar Tree

Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.

Want to see what other hedge funds are holding DLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dollar Tree, Inc. (NASDAQ:DLTR).

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