T. Rowe Price Investment Management Inc. Trims Stock Position in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Ollie's Bargain Outlet by 58.7%, owning 179,458 shares valued at approximately $20.88 million after selling 254,799 shares in the first quarter.
• Various institutional investors increased their positions in Ollie's, with Wellington Management Group raising its stake by 268% and now owning 844,799 shares valued at $98.3 million.
• Analysts have positive outlooks on Ollie's, with Piper Sandler raising its price target from $123 to $150 and the stock currently holding an average consensus rating of "Moderate Buy."

T. Rowe Price Investment Management Inc. lessened its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 58.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,458 shares of the company's stock after selling 254,799 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.29% of Ollie's Bargain Outlet worth $20,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Credit Agricole S A increased its holdings in Ollie's Bargain Outlet by 51.3% in the first quarter. Credit Agricole S A now owns 26,884 shares of the company's stock valued at $3,128,000 after buying an additional 9,113 shares in the last quarter. Wellington Management Group LLP increased its holdings in Ollie's Bargain Outlet by 268.0% in the first quarter. Wellington Management Group LLP now owns 844,799 shares of the company's stock valued at $98,301,000 after buying an additional 615,257 shares in the last quarter. Brooklyn Investment Group increased 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 buying an additional 223 shares in the last quarter. Corient IA LLC purchased a new position in Ollie's Bargain Outlet in the first quarter valued at $349,000. Finally, Northwest & Ethical Investments L.P. increased its holdings in Ollie's Bargain Outlet by 305.7% in the first quarter. Northwest & Ethical Investments L.P. now owns 4,666 shares of the company's stock valued at $542,000 after buying an additional 3,516 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price objective 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. Wall Street Zen raised shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Truist Financial lifted their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Ollie's Bargain Outlet from $137.00 to $159.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, KeyCorp set a $145.00 target price on shares of Ollie's Bargain Outlet and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $130.79.

Insiders Place Their Bets

In related news, CEO Der Valk Eric Van sold 728 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the transaction, the chief executive officer directly owned 7,761 shares in the company, valued at approximately $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.75% of the company's stock.

Ollie's Bargain Outlet Stock Down 1.4%

OLLI stock opened at $132.19 on Friday. The stock has a market capitalization of $8.11 billion, a P/E ratio of 40.67, a P/E/G ratio of 2.96 and a beta of 0.40. The firm has a 50-day simple moving average of $131.77 and a 200-day simple moving average of $116.87. Ollie's Bargain Outlet Holdings, Inc. has a 52 week low of $86.29 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.650-3.750 EPS. On average, analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.