Northwest & Ethical Investments L.P. Raises Stake in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Northwest & Ethical Investments L.P. significantly increased its stake in Ollie's Bargain Outlet by 305.7%, acquiring an additional 3,516 shares during the first quarter, bringing its total holdings to 4,666 shares valued at $542,000.
• Ollie's reported a quarterly earnings per share (EPS) of $0.75, surpassing analyst expectations of $0.70, and achieved a revenue of $576.77 million, marking a 13.4% increase from the previous year.
• Several analysts have revised their price targets for Ollie's stock, with JPMorgan Chase raising it from $137 to $159, while the average price target now stands at $130.79, reflecting a generally positive outlook.

Northwest & Ethical Investments L.P. boosted its position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 305.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,666 shares of the company's stock after acquiring an additional 3,516 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Ollie's Bargain Outlet were worth $542,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Freestone Grove Partners LP purchased a new stake in Ollie's Bargain Outlet during the 4th quarter worth about $24,452,000. Royal Bank of Canada raised its position in shares of Ollie's Bargain Outlet by 48.5% during the 4th quarter. Royal Bank of Canada now owns 649,382 shares of the company's stock worth $71,257,000 after acquiring an additional 212,055 shares in the last quarter. Nuveen LLC acquired a new stake in Ollie's Bargain Outlet during the first quarter worth approximately $24,452,000. Tidal Investments LLC acquired a new position in shares of Ollie's Bargain Outlet in the 4th quarter valued at $21,733,000. Finally, Victory Capital Management Inc. grew its position in shares of Ollie's Bargain Outlet by 637.6% in the 1st quarter. Victory Capital Management Inc. now owns 218,548 shares of the company's stock valued at $25,430,000 after buying an additional 188,917 shares during the last quarter.

Analyst Upgrades and Downgrades

OLLI has been the subject of several research analyst reports. Truist Financial upped their price objective on shares of Ollie's Bargain Outlet from $128.00 to $146.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen raised Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. KeyCorp set a $145.00 price objective on Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. upped their price target on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Loop Capital lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a research note on Tuesday, June 24th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $130.79.

Insider Buying and Selling at Ollie's Bargain Outlet

In related news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction on 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 directly 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 SEC, which can be accessed through this link. 0.75% of the stock is currently owned by corporate insiders.

Ollie's Bargain Outlet Stock Performance

NASDAQ:OLLI traded down $1.94 during trading hours on Friday, hitting $132.19. The company's stock had a trading volume of 1,689,683 shares, compared to its average volume of 852,849. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.29 and a 52-week high of $141.74. The business's 50-day moving average is $131.77 and its two-hundred day moving average is $116.87. The company has a market capitalization of $8.11 billion, a PE ratio of 40.67, a PEG ratio of 2.96 and a beta of 0.40.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a net margin of 8.59% and a return on equity of 12.27%. The business's revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 EPS. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.650-3.750 EPS. As a group, analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

About Ollie's Bargain Outlet

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.