Bank of New York Mellon Corp Trims Stake in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Bank of New York Mellon Corp reduced its stake in Ollie's Bargain Outlet by 11% in the first quarter, selling 50,909 shares and leaving it with 411,234 shares valued at about $37.9 million.
• Ollie's reported better-than-expected quarterly earnings of $0.91 per share, beating estimates, while revenue rose 14.2% year over year to $658.93 million.
• Analyst sentiment remains mixed but constructive, with a consensus “Moderate Buy” rating and an average price target of $113.13, though several firms recently lowered their targets.

Bank of New York Mellon Corp cut its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 411,234 shares of the company's stock after selling 50,909 shares during the period. Bank of New York Mellon Corp owned 0.67% of Ollie's Bargain Outlet worth $37,850,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Planning Group LLC raised its stake in shares of Ollie's Bargain Outlet by 218.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 255 shares of the company's stock worth $27,000 after buying an additional 175 shares during the period. Allworth Financial LP grew its stake in shares of Ollie's Bargain Outlet by 301.8% during the 3rd quarter. Allworth Financial LP now owns 221 shares of the company's stock valued at $28,000 after acquiring an additional 166 shares during the period. Maseco LLP purchased a new stake in Ollie's Bargain Outlet in the 4th quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. increased its holdings in Ollie's Bargain Outlet by 49.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 279 shares of the company's stock worth $31,000 after acquiring an additional 92 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in Ollie's Bargain Outlet by 131.6% during the 1st quarter. CENTRAL TRUST Co now owns 477 shares of the company's stock worth $44,000 after acquiring an additional 271 shares during the period.

Ollie's Bargain Outlet Stock Performance

OLLI opened at $66.31 on Friday. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.17 and a beta of 0.47. The company has a fifty day moving average of $74.61 and a 200 day moving average of $92.13. Ollie's Bargain Outlet Holdings, Inc. has a fifty-two week low of $60.29 and a fifty-two week high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $661.65 million. During the same quarter in the previous year, the company earned $0.75 EPS. The business's quarterly revenue was up 14.2% compared to the same quarter last year. Ollie's Bargain Outlet has set its FY 2026 guidance at 4.450-4.550 EPS. On average, equities research analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 4.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup lowered their price target on shares of Ollie's Bargain Outlet from $141.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Weiss Ratings cut shares of Ollie's Bargain Outlet from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, July 16th. Royal Bank Of Canada decreased their price objective on shares of Ollie's Bargain Outlet from $153.00 to $152.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 27th. JPMorgan Chase & Co. restated a "neutral" rating and set a $70.00 target price (down from $152.00) on shares of Ollie's Bargain Outlet in a research note on Wednesday, July 8th. Finally, UBS Group set a $80.00 target price on shares of Ollie's Bargain Outlet in a report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $113.13.

About Ollie's Bargain Outlet

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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