Bank of New York Mellon Corp Raises Stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Bank of New York Mellon Corp raised its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 881,996 shares of the company's stock after acquiring an additional 179,452 shares during the period. Bank of New York Mellon Corp owned about 1.44% of Ollie's Bargain Outlet worth $102,629,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 purchasing an additional 191 shares during the period. City Holding Co. bought a new stake in shares of Ollie's Bargain Outlet during the 1st quarter worth $31,000. Brown Brothers Harriman & Co. bought a new stake in shares of Ollie's Bargain Outlet during the 4th quarter worth $33,000. Putney Financial Group LLC bought a new stake in shares of Ollie's Bargain Outlet during the 4th quarter worth $33,000. Finally, GeoWealth Management LLC bought a new stake in shares of Ollie's Bargain Outlet during the 4th quarter worth $38,000.

Insider Activity at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the transaction, the chief executive officer owned 7,761 shares of the company's stock, valued at approximately $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Price Performance

OLLI stock traded up $0.95 during mid-day trading on Friday, reaching $127.63. 253,427 shares of the company traded hands, compared to its average volume of 1,215,588. The company has a market capitalization of $7.83 billion, a P/E ratio of 39.27, a P/E/G ratio of 2.87 and a beta of 0.41. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.05 and a 52-week high of $134.59. The company has a fifty day moving average price of $118.78 and a 200-day moving average price of $111.47.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OLLI shares. Piper Sandler reissued an "overweight" rating and issued a $123.00 price objective (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Royal Bank Of Canada reissued an "outperform" rating and issued a $133.00 price objective on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. KeyCorp set a $145.00 price objective on Ollie's Bargain Outlet and gave the stock an "overweight" rating in a report on Thursday, June 26th. Truist Financial lifted their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Loop Capital lowered Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on 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 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.