Price T Rowe Associates Inc. MD Acquires 8,708 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Ollie's Bargain Outlet Holdings by purchasing an additional 8,708 shares, bringing its ownership to approximately 329,802 shares valued at $38.38 million.
• Wall Street analysts have raised their price targets for Ollie's, with estimates now ranging up to $159, reflecting a positive outlook from multiple investment firms.
• Ollie's reported $0.75 earnings per share for the last quarter, surpassing expectations and achieving a revenue growth of 13.4% year-over-year.

Price T Rowe Associates Inc. MD boosted its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 2.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 329,802 shares of the company's stock after buying an additional 8,708 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.54% of Ollie's Bargain Outlet worth $38,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital raised its holdings in Ollie's Bargain Outlet by 4.5% during the 1st quarter. Wedmont Private Capital now owns 2,084 shares of the company's stock valued at $238,000 after buying an additional 89 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in Ollie's Bargain Outlet by 3.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,912 shares of the company's stock valued at $320,000 after buying an additional 97 shares during the last quarter. Xponance Inc. raised its holdings in Ollie's Bargain Outlet by 1.4% during the 1st quarter. Xponance Inc. now owns 7,231 shares of the company's stock valued at $841,000 after buying an additional 102 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Ollie's Bargain Outlet by 3.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,565 shares of the company's stock valued at $531,000 after buying an additional 146 shares during the last quarter. Finally, State of Wyoming raised its holdings in Ollie's Bargain Outlet by 7.4% during the 4th quarter. State of Wyoming now owns 2,156 shares of the company's stock valued at $237,000 after buying an additional 148 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial upped their price target on shares of Ollie's Bargain Outlet from $128.00 to $146.00 and gave the company a "buy" rating in a report on Wednesday, August 13th. Piper Sandler upped their price target on shares of Ollie's Bargain Outlet from $123.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, August 19th. Loop Capital downgraded 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 report on Tuesday, June 24th. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. boosted their price objective 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. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Ollie's Bargain Outlet has a consensus rating of "Moderate Buy" and an average price target of $132.62.

Ollie's Bargain Outlet Price Performance

NASDAQ:OLLI opened at $130.60 on Thursday. The firm's 50-day moving average price is $132.45 and its 200-day moving average price is $117.29. The company has a market capitalization of $8.01 billion, a PE ratio of 40.18, a P/E/G ratio of 2.93 and a beta of 0.40. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $86.29 and a 1-year high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates 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 8.59% and a return on equity of 12.27%. The company's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 EPS. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.650-3.750 EPS. Equities analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling at Ollie's Bargain Outlet

In other news, CEO Der Valk Eric Van sold 728 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $112.85, for a total value of $82,154.80. Following the sale, the chief executive officer directly owned 7,761 shares of the company's stock, valued at $875,828.85. This represents a 8.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

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.

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