Royal Bank of Canada Has $71.26 Million Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Royal Bank of Canada raised its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 48.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 649,382 shares of the company's stock after purchasing an additional 212,055 shares during the period. Royal Bank of Canada owned 1.06% of Ollie's Bargain Outlet worth $71,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position 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 valued at $25,000 after buying an additional 191 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Ollie's Bargain Outlet by 337.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after purchasing an additional 182 shares during the period. Bogart Wealth LLC acquired a new position in Ollie's Bargain Outlet during the 4th quarter valued at about $26,000. Blue Trust Inc. boosted its stake in Ollie's Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after purchasing an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in Ollie's Bargain Outlet during the 4th quarter valued at about $33,000.

Insider Activity at Ollie's Bargain Outlet

In related news, Chairman John W. Swygert sold 3,331 shares of Ollie's Bargain Outlet stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $114.60, for a total transaction of $381,732.60. Following the completion of the transaction, the chairman now directly owns 48,200 shares of the company's stock, valued at $5,523,720. This trade represents a 6.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert F. Helm sold 2,139 shares of Ollie's Bargain Outlet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $115.74, for a total transaction of $247,567.86. Following the transaction, the chief financial officer now directly owns 2,961 shares of the company's stock, valued at $342,706.14. This represents a 41.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,897 shares of company stock worth $4,227,970. 0.75% of the stock is owned by insiders.

Ollie's Bargain Outlet Trading Down 3.0%

OLLI stock traded down $3.42 during midday trading on Friday, reaching $110.88. The company had a trading volume of 2,851,729 shares, compared to its average volume of 1,170,984. The company has a 50 day moving average of $111.03 and a two-hundred day moving average of $106.85. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $75.67 and a 1 year high of $122.15. The company has a market capitalization of $6.81 billion, a P/E ratio of 33.10, a PEG ratio of 2.21 and a beta of 0.45.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $667.10 million for the quarter, compared to analyst estimates of $674.61 million. During the same quarter last year, the company earned $1.23 EPS. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Analysts Set New Price Targets

OLLI has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. Royal Bank of Canada upped their price target on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Morgan Stanley upped their price target on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Piper Sandler reduced their price target on shares of Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Finally, KeyCorp upped their price target on shares of Ollie's Bargain Outlet from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Ollie's Bargain Outlet currently has an average rating of "Moderate Buy" and a consensus price target of $124.07.

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.