Bank of America Corp DE Makes New $22.76 Million Investment in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Bank of America acquired 296,016 shares of Ollie’s Bargain Outlet in the second quarter, valued at approximately $22.76 million and representing about 0.49% of the company.
• Several institutional investors increased their positions, including BlackRock, Wasatch Advisors, Goldman Sachs, Geode Capital Management, and Dimensional Fund Advisors.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $102.43. Ollie’s also exceeded quarterly EPS expectations, reporting $1.42 versus the $1.12 consensus estimate.

Bank of America Corp DE acquired a new stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 296,016 shares of the company's stock, valued at approximately $22,758,000. Bank of America Corp DE owned about 0.49% of Ollie's Bargain Outlet at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in OLLI. BlackRock Inc. acquired a new stake in Ollie's Bargain Outlet in the second quarter valued at $430,204,000. Wasatch Advisors LP raised its position in shares of Ollie's Bargain Outlet by 45.9% during the second quarter. Wasatch Advisors LP now owns 4,362,067 shares of the company's stock worth $335,356,000 after acquiring an additional 1,371,744 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Ollie's Bargain Outlet by 315.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,707,117 shares of the company's stock worth $187,117,000 after acquiring an additional 1,296,672 shares during the period. Geode Capital Management LLC boosted its holdings in Ollie's Bargain Outlet by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 1,217,762 shares of the company's stock valued at $133,504,000 after acquiring an additional 56,948 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Ollie's Bargain Outlet by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,272,306 shares of the company's stock valued at $117,098,000 after purchasing an additional 72,781 shares during the period.

Analyst Ratings Changes

OLLI has been the topic of a number of analyst reports. Truist Financial upped their price objective on shares of Ollie's Bargain Outlet from $80.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Royal Bank Of Canada upped their price target on shares of Ollie's Bargain Outlet from $121.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Loop Capital reiterated a "buy" rating and set a $135.00 price target on shares of Ollie's Bargain Outlet in a report on Thursday, June 4th. Citigroup dropped their price objective on Ollie's Bargain Outlet from $100.00 to $98.00 and set a "buy" rating on the stock in a research note on Friday, September 4th. Finally, Gordon Haskett restated an "accumulate" rating and set a $90.00 target price (down from $100.00) on shares of Ollie's Bargain Outlet in a research report on Thursday, June 4th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $102.43.

Ollie's Bargain Outlet Trading Up 0.2%

Shares of OLLI stock opened at $82.61 on Thursday. The firm has a market capitalization of $4.91 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.36 and a beta of 0.50. The firm has a fifty day simple moving average of $74.25 and a two-hundred day simple moving average of $81.05. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $60.29 and a 12 month high of $136.41.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.12 by $0.30. The company had revenue of $741.31 million during the quarter, compared to the consensus estimate of $747.71 million. Ollie's Bargain Outlet had a net margin of 9.79% and a return on equity of 14.54%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. Ollie's Bargain Outlet has set its FY 2026 guidance at 4.570-4.650 EPS. On average, equities analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 4.61 earnings per share for the current fiscal year.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates a chain of value-oriented retail stores under the Ollie's Bargain Outlet name. The company purchases closeout, excess, overstock, discontinued and salvage merchandise from manufacturers, distributors and other retailers, allowing it to offer products at discounted prices.

Its merchandise assortment typically includes housewares, food, hardware, toys, seasonal goods, apparel, health and personal-care products, books, flooring and other home-related items.

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