Royal Bank of Canada Sells 79,368 Shares of Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• Royal Bank of Canada has reduced its stake in Ollie's Bargain Outlet by 12.2%, now holding approximately 0.93% of the company's shares, worth around $66.3 million.
• Multiple analysts have recently updated their ratings and price targets for Ollie's Bargain Outlet, with Wells Fargo increasing its target from $105 to $130 and KeyCorp setting a $145 target.
• Ollie's Bargain Outlet reported a 17.5% year-over-year revenue increase, achieving $679.56 million in revenue and an earnings per share (EPS) of $0.99 for the most recent quarter.

Royal Bank of Canada lessened its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 12.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 570,014 shares of the company's stock after selling 79,368 shares during the quarter. Royal Bank of Canada owned about 0.93% of Ollie's Bargain Outlet worth $66,327,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OLLI. HM Payson & Co. acquired a new position in Ollie's Bargain Outlet in the 1st quarter worth $30,000. City Holding Co. acquired a new stake in Ollie's Bargain Outlet in the first quarter valued at $31,000. Putney Financial Group LLC acquired a new stake in Ollie's Bargain Outlet in the fourth quarter valued at $33,000. Opal Wealth Advisors LLC acquired a new stake in Ollie's Bargain Outlet in the first quarter valued at $38,000. Finally, Brooklyn Investment Group raised its holdings in Ollie's Bargain Outlet by 133.5% in the first quarter. Brooklyn Investment Group now owns 390 shares of the company's stock valued at $45,000 after acquiring an additional 223 shares in the last quarter.

Insiders Place Their Bets

In related news, SVP James J. Comitale sold 2,117 shares of Ollie's Bargain Outlet stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $130.00, for a total value of $275,210.00. Following the completion of the sale, the senior vice president directly owned 2,504 shares in the company, valued at $325,520. This trade represents a 45.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $112.85, for a total value of $82,154.80. Following the completion of the sale, the chief executive officer 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 disclosure for this sale can be found here. Company insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

OLLI has been the topic of several recent analyst reports. KeyCorp set a $145.00 price target on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. Craig Hallum set a $156.00 target price on shares of Ollie's Bargain Outlet in a research report on Friday, August 29th. Jefferies Financial Group raised their target price on Ollie's Bargain Outlet from $111.00 to $135.00 and gave the company a "hold" rating in a research note on Friday, August 29th. UBS Group increased their price target on Ollie's Bargain Outlet from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Finally, Citigroup restated a "buy" rating on shares of Ollie's Bargain Outlet in a report on Friday, August 29th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Ollie's Bargain Outlet currently has a consensus rating of "Moderate Buy" and an average target price of $143.46.

Ollie's Bargain Outlet Stock Performance

Shares of OLLI traded down $0.46 during mid-day trading on Friday, hitting $133.40. The company's stock had a trading volume of 792,830 shares, compared to its average volume of 1,183,091. Ollie's Bargain Outlet Holdings, Inc. has a one year low of $86.67 and a one year high of $141.74. The firm has a market capitalization of $8.18 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 2.73 and a beta of 0.45. The stock's 50-day moving average is $132.62 and its two-hundred day moving average is $118.52.

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

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.