Bank of New York Mellon Corp Acquires Shares of 377,523 Ollie's Bargain Outlet Holdings, Inc. $OLLI

Bank of New York Mellon Corp acquired a new position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 377,523 shares of the company's stock, valued at approximately $29,024,000. Bank of New York Mellon Corp owned about 0.62% of Ollie's Bargain Outlet at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OLLI. Wasatch Advisors LP grew its position in Ollie's Bargain Outlet by 45.9% in the 2nd quarter. Wasatch Advisors LP now owns 4,362,067 shares of the company's stock worth $335,356,000 after purchasing an additional 1,371,744 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in 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 purchasing an additional 1,296,672 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in Ollie's Bargain Outlet in the third quarter worth $136,152,000. Norges Bank bought a new position in Ollie's Bargain Outlet in the 4th quarter valued at $85,845,000. Finally, Invesco Ltd. grew its stake in Ollie's Bargain Outlet by 17.2% in the 3rd quarter. Invesco Ltd. now owns 2,992,848 shares of the company's stock valued at $384,282,000 after purchasing an additional 440,243 shares during the period.

Ollie's Bargain Outlet Trading Up 1.3%

OLLI stock opened at $72.42 on Friday. The firm has a 50 day moving average of $72.20 and a 200-day moving average of $85.51. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $60.29 and a 12 month high of $139.21. The firm has a market capitalization of $4.38 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 1.28 and a beta of 0.46.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Ollie's Bargain Outlet had a net margin of 9.13% and a return on equity of 13.43%. The business had revenue of $658.93 million for the quarter, compared to analyst estimates of $661.65 million. During the same quarter in the prior year, the firm posted $0.75 EPS. Ollie's Bargain Outlet's revenue was up 14.2% on a year-over-year basis. Ollie's Bargain Outlet has set its FY 2026 guidance at 4.450-4.550 EPS. Sell-side analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 4.44 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on OLLI. Loop Capital reaffirmed a "buy" rating and set a $135.00 target price on shares of Ollie's Bargain Outlet in a research report on Thursday, June 4th. Weiss Ratings downgraded shares of Ollie's Bargain Outlet from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, July 16th. Gordon Haskett restated an "accumulate" rating and set a $90.00 price target (down from $100.00) on shares of Ollie's Bargain Outlet in a research report on Thursday, June 4th. Piper Sandler decreased their price objective on shares of Ollie's Bargain Outlet from $114.00 to $113.00 and set an "overweight" rating for the company in a report on Tuesday, August 18th. Finally, Morgan Stanley lowered their price objective on shares of Ollie's Bargain Outlet from $120.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Thursday, June 4th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $107.29.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.

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