Raymond James Financial Inc. Invests $24.92 Million in Dollar Tree, Inc. (NASDAQ:DLTR)

Raymond James Financial Inc. purchased a new position in shares of Dollar Tree, Inc. (NASDAQ:DLTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 332,561 shares of the company's stock, valued at approximately $24,922,000. Raymond James Financial Inc. owned about 0.15% of Dollar Tree as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DLTR. Equity Investment Corp lifted its position in Dollar Tree by 95.9% in the third quarter. Equity Investment Corp now owns 1,525,374 shares of the company's stock valued at $107,264,000 after purchasing an additional 746,913 shares during the last quarter. Forest Avenue Capital Management LP bought a new stake in Dollar Tree during the 3rd quarter valued at $19,591,000. Anthracite Investment Company Inc. purchased a new stake in Dollar Tree during the 3rd quarter valued at $2,813,000. Pekin Hardy Strauss Inc. bought a new stake in Dollar Tree in the 3rd quarter worth $5,235,000. Finally, Citigroup Inc. increased its position in shares of Dollar Tree by 30.3% in the third quarter. Citigroup Inc. now owns 449,763 shares of the company's stock valued at $31,627,000 after acquiring an additional 104,684 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Dollar Tree Stock Down 1.1 %

NASDAQ DLTR traded down $0.71 during midday trading on Wednesday, hitting $64.27. 1,930,915 shares of the company traded hands, compared to its average volume of 3,373,766. Dollar Tree, Inc. has a 52 week low of $60.49 and a 52 week high of $137.14. The company has a market cap of $13.82 billion, a PE ratio of -13.47, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The company's 50-day simple moving average is $71.57 and its 200-day simple moving average is $70.36.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DLTR shares. Piper Sandler reiterated a "neutral" rating and set a $72.00 target price (up from $67.00) on shares of Dollar Tree in a report on Thursday, December 5th. Telsey Advisory Group reissued a "market perform" rating and issued a $75.00 price target on shares of Dollar Tree in a research note on Thursday, March 6th. Guggenheim dropped their price target on Dollar Tree from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, December 6th. Truist Financial increased their price objective on Dollar Tree from $79.00 to $83.00 and gave the stock a "buy" rating in a report on Thursday, December 5th. Finally, Evercore ISI dropped their target price on shares of Dollar Tree from $94.00 to $92.00 and set an "in-line" rating on the stock in a report on Tuesday, December 3rd. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $84.79.

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.