Bank of New York Mellon Corp Buys 179,452 Shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bank of New York Mellon Corp increased its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 25.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 881,996 shares of the company's stock after purchasing an additional 179,452 shares during the period. Bank of New York Mellon Corp owned approximately 1.44% of Ollie's Bargain Outlet worth $102,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ollie's Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after buying an additional 191 shares in the last quarter. City Holding Co. bought a new stake in Ollie's Bargain Outlet during the 1st quarter worth about $31,000. Brown Brothers Harriman & Co. bought a new stake in Ollie's Bargain Outlet during the 4th quarter worth about $33,000. Putney Financial Group LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter worth about $33,000. Finally, GeoWealth Management LLC bought a new stake in Ollie's Bargain Outlet during the 4th quarter worth about $38,000.

Analyst Upgrades and Downgrades

OLLI has been the topic of a number of research analyst reports. UBS Group upped their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. KeyCorp set a $145.00 target price on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley upped their target price on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Truist Financial upped their target price on shares of Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $125.21.

Ollie's Bargain Outlet Trading Up 0.3%

Shares of NASDAQ:OLLI traded up $0.33 on Friday, reaching $127.01. 671,053 shares of the company's stock were exchanged, compared to its average volume of 1,163,763. The company has a fifty day moving average of $119.11 and a 200-day moving average of $111.48. Ollie's Bargain Outlet Holdings, Inc. has a twelve month low of $86.05 and a twelve month high of $134.59. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 39.08, a PEG ratio of 2.86 and a beta of 0.41.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $565.04 million. During the same quarter in the prior year, the business posted $0.73 EPS. The business's revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, the chief executive officer owned 7,761 shares in the company, valued at $875,828.85. This represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.75% of the stock is currently owned by insiders.

Ollie's Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company's products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.