Public Employees Retirement System of Ohio Sells 4,468 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• The Public Employees Retirement System of Ohio decreased its stake in Ollie's Bargain Outlet Holdings, Inc. by 4.0%, selling 4,468 shares during the second quarter, leaving them with 106,151 shares valued at approximately $13.99 million.
• Ollie's recently reported quarterly earnings of $0.99 per share, exceeding analysts' expectations, with revenues of $679.56 million, representing a 17.5% increase year-over-year.
• Equity research analysts have been positive on Ollie's, with several increasing their price targets, resulting in an average target of $144.15 and a consensus rating of "Moderate Buy."

Public Employees Retirement System of Ohio reduced its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,151 shares of the company's stock after selling 4,468 shares during the period. Public Employees Retirement System of Ohio owned 0.17% of Ollie's Bargain Outlet worth $13,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OLLI. HM Payson & Co. bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter valued at about $30,000. City Holding Co. bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter valued at about $31,000. Maseco LLP bought a new stake in shares of Ollie's Bargain Outlet in the 2nd quarter valued at about $36,000. Opal Wealth Advisors LLC bought a new stake in shares of Ollie's Bargain Outlet in the 1st quarter valued at about $38,000. Finally, Brooklyn Investment Group raised its holdings in shares of Ollie's Bargain Outlet by 133.5% in the 1st quarter. Brooklyn Investment Group now owns 390 shares of the company's stock valued at $45,000 after purchasing an additional 223 shares in the last quarter.

Ollie's Bargain Outlet Stock Down 0.9%

OLLI opened at $132.40 on Friday. Ollie's Bargain Outlet Holdings, Inc. has a 52-week low of $86.88 and a 52-week high of $141.74. The company has a market cap of $8.12 billion, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. The firm's 50-day moving average price is $133.84 and its 200-day moving average price is $121.73.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.08. Ollie's Bargain Outlet had a net margin of 8.74% and a return on equity of 12.66%. The firm had revenue of $679.56 million for the quarter, compared to the consensus estimate of $658.03 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Insider Activity

In other news, Chairman John W. Swygert sold 107,058 shares of the company's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $132.87, for a total transaction of $14,224,796.46. Following the transaction, the chairman owned 48,200 shares in the company, valued at $6,404,334. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James J. Comitale sold 2,117 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $130.00, for a total transaction of $275,210.00. Following the transaction, the senior vice president owned 2,504 shares in the company, valued at approximately $325,520. This trade represents a 45.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OLLI shares. Citigroup restated a "buy" rating on shares of Ollie's Bargain Outlet in a report on Friday, August 29th. Morgan Stanley raised their price target on shares of Ollie's Bargain Outlet from $118.00 to $145.00 and gave the company an "equal weight" rating in a report on Friday, August 29th. Piper Sandler raised 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. KeyCorp raised their price target on shares of Ollie's Bargain Outlet from $145.00 to $154.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Finally, Truist Financial raised their price target on shares of Ollie's Bargain Outlet from $146.00 to $148.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and an average price target of $144.15.

Ollie's Bargain Outlet 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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