Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is Congress Asset Management Co.'s 5th Largest Position

Congress Asset Management Co. lessened its stake in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,828,258 shares of the company's stock after selling 88,326 shares during the period. Ollie's Bargain Outlet makes up about 1.6% of Congress Asset Management Co.'s investment portfolio, making the stock its 5th largest holding. Congress Asset Management Co. owned 2.98% of Ollie's Bargain Outlet worth $212,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in OLLI. Barclays PLC lifted its stake in shares of Ollie's Bargain Outlet by 59.2% in the third quarter. Barclays PLC now owns 41,307 shares of the company's stock worth $4,014,000 after buying an additional 15,357 shares in the last quarter. Blue Trust Inc. lifted its position in Ollie's Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Ollie's Bargain Outlet in the 4th quarter valued at approximately $225,000. Retirement Systems of Alabama increased its holdings in shares of Ollie's Bargain Outlet by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 74,594 shares of the company's stock worth $8,185,000 after purchasing an additional 243 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth $228,000.

Insider Transactions at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, Chairman John W. Swygert sold 6,526 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total transaction of $703,959.62. Following the completion of the transaction, the chairman now owns 53,432 shares of the company's stock, valued at $5,763,709.84. This represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin Mclain sold 4,799 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $115.56, for a total value of $554,572.44. Following the transaction, the senior vice president now owns 12,336 shares of the company's stock, valued at approximately $1,425,548.16. The trade was a 28.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock valued at $4,227,970 over the last 90 days. Company insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on OLLI. Truist Financial increased their price objective on Ollie's Bargain Outlet from $126.00 to $128.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Ollie's Bargain Outlet from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Monday, May 19th. UBS Group boosted their price objective 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. Piper Sandler restated an "overweight" rating and issued a $123.00 target price (down previously from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $133.00 target price on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and an average target price of $124.50.

Ollie's Bargain Outlet Trading Down 2.5%

NASDAQ OLLI traded down $2.87 on Tuesday, reaching $113.01. 1,169,862 shares of the stock were exchanged, compared to its average volume of 1,176,837. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $83.55 and a one year high of $122.15. The firm has a market capitalization of $6.93 billion, a PE ratio of 33.73, a PEG ratio of 2.21 and a beta of 0.37. The company's 50-day simple moving average is $111.53 and its two-hundred day simple moving average is $108.61.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company's revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.73 EPS. Sell-side analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share 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.