Citigroup Inc. Buys 104,684 Shares of Dollar Tree, Inc. (NASDAQ:DLTR)

Citigroup Inc. increased its stake in Dollar Tree, Inc. (NASDAQ:DLTR) by 30.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 449,763 shares of the company’s stock after acquiring an additional 104,684 shares during the quarter. Citigroup Inc. owned about 0.21% of Dollar Tree worth $31,627,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Raymond James Trust N.A. lifted its position in shares of Dollar Tree by 66.3% in the 3rd quarter. Raymond James Trust N.A. now owns 8,309 shares of the company’s stock worth $584,000 after purchasing an additional 3,313 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Dollar Tree by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,253,423 shares of the company’s stock valued at $88,141,000 after buying an additional 10,681 shares during the period. Primecap Management Co. CA boosted its position in Dollar Tree by 5.5% during the third quarter. Primecap Management Co. CA now owns 3,030,845 shares of the company’s stock valued at $213,129,000 after acquiring an additional 158,385 shares during the last quarter. Intech Investment Management LLC grew its holdings in Dollar Tree by 68.5% during the 3rd quarter. Intech Investment Management LLC now owns 257,138 shares of the company’s stock worth $18,082,000 after acquiring an additional 104,508 shares during the period. Finally, Anthracite Investment Company Inc. acquired a new stake in Dollar Tree during the 3rd quarter worth about $2,813,000. 97.40% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Daniel J. Heinrich bought 2,200 shares of Dollar Tree stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $68.27 per share, with a total value of $150,194.00. Following the transaction, the director now directly owns 9,823 shares of the company’s stock, valued at approximately $670,616.21. The trade was a 28.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.

Dollar Tree Stock Performance

DLTR stock opened at $69.78 on Tuesday. The business has a 50 day moving average of $67.70 and a 200-day moving average of $89.70. The firm has a market cap of $15.00 billion, a PE ratio of -14.30, a P/E/G ratio of 2.63 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 company has a quick ratio of 0.17, a current ratio of 1.02 and a debt-to-equity ratio of 0.33.

Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.37). The business had revenue of $7.37 billion for 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%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Dollar Tree, Inc. will post 5.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DLTR. Loop Capital cut Dollar Tree from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Thursday, September 5th. Truist Financial reduced their price objective on shares of Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Redburn Atlantic upgraded shares of Dollar Tree to a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets reduced their price target on shares of Dollar Tree from $68.00 to $65.00 and set a “market perform” rating for the company in a report on Monday, November 18th. Finally, Telsey Advisory Group lowered shares of Dollar Tree from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $95.00 to $75.00 in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Dollar Tree currently has a consensus rating of “Hold” and a consensus target price of $87.95.

Dollar Tree Company 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.