Pekin Hardy Strauss Inc. Purchases Shares of 74,441 Dollar Tree, Inc. (NASDAQ:DLTR)

Pekin Hardy Strauss Inc. bought a new position in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 74,441 shares of the company's stock, valued at approximately $5,235,000.

Other institutional investors also recently made changes to their positions in the company. Strategic Financial Concepts LLC bought a new position in Dollar Tree during the second quarter valued at about $26,000. Mather Group LLC. lifted its position in Dollar Tree by 198.9% during the 2nd quarter. Mather Group LLC. now owns 281 shares of the company's stock worth $30,000 after buying an additional 187 shares in the last quarter. Eastern Bank bought a new stake in Dollar Tree during the 3rd quarter worth about $34,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Dollar Tree in the second quarter worth about $37,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Dollar Tree by 105.6% during the third quarter. First Horizon Advisors Inc. now owns 553 shares of the company's stock worth $39,000 after purchasing an additional 284 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on DLTR. Piper Sandler cut their target price on Dollar Tree from $112.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Redburn Atlantic raised Dollar Tree to a "hold" rating in a research report on Monday, September 23rd. 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 note on Thursday, September 5th. Barclays decreased their target price on shares of Dollar Tree from $128.00 to $81.00 and set an "equal weight" rating for the company in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price objective on Dollar Tree from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Dollar Tree has an average rating of "Hold" and a consensus target price of $87.95.

Insiders Place Their Bets

In related news, Director Daniel J. Heinrich bought 2,200 shares of the company's stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $68.27 per share, with a total value of $150,194.00. Following the completion of the acquisition, the director now owns 9,823 shares of the company's stock, valued at $670,616.21. The trade was a 28.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.80% of the company's stock.

Dollar Tree Stock Performance

Shares of DLTR stock traded up $0.64 on Friday, hitting $66.40. 3,013,368 shares of the stock were exchanged, compared to its average volume of 5,693,267. The firm has a market capitalization of $14.28 billion, a PE ratio of -13.61, a P/E/G ratio of 2.60 and a beta of 0.87. The firm's 50 day moving average is $67.75 and its two-hundred day moving average is $90.05. Dollar Tree, Inc. has a one year low of $60.49 and a one year high of $151.21. The company has a current ratio of 1.02, a quick ratio of 0.17 and a debt-to-equity ratio of 0.33.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The firm had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter last year, the company posted $0.91 earnings per share. Dollar Tree's revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts expect that Dollar Tree, Inc. will post 5.35 earnings per share for the current fiscal year.

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.