The Manufacturers Life Insurance Company Invests $3.20 Million in Ollie's Bargain Outlet Holdings, Inc. $OLLI

Key Points

• The Manufacturers Life Insurance Company purchased 41,639 Ollie’s shares in the second quarter, worth approximately $3.2 million and representing about 0.07% of the company.
• Ollie’s reported quarterly EPS of $0.91, exceeding analyst expectations of $0.87, while revenue rose 14.2% year over year to $658.93 million, slightly below estimates.
• Shares opened at $72.34, down 4.1%, while analysts maintained a “Moderate Buy” consensus with an average price target of $107.29 despite several recent target reductions.

The Manufacturers Life Insurance Company purchased a new stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,639 shares of the company's stock, valued at approximately $3,201,000. The Manufacturers Life Insurance Company owned about 0.07% of Ollie's Bargain Outlet at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OLLI. Cornerstone Planning Group LLC boosted its stake in Ollie's Bargain Outlet by 218.8% during the 4th quarter. Cornerstone Planning Group LLC now owns 255 shares of the company's stock worth $27,000 after acquiring an additional 175 shares during the last quarter. Allworth Financial LP increased its stake in Ollie's Bargain Outlet by 301.8% in the third quarter. Allworth Financial LP now owns 221 shares of the company's stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Ollie's Bargain Outlet by 49.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 279 shares of the company's stock worth $31,000 after purchasing an additional 92 shares during the period. CENTRAL TRUST Co raised its holdings in Ollie's Bargain Outlet by 131.6% in the first quarter. CENTRAL TRUST Co now owns 477 shares of the company's stock worth $44,000 after purchasing an additional 271 shares during the period. Finally, Root Financial Partners LLC raised its holdings in Ollie's Bargain Outlet by 190.5% in the first quarter. Root Financial Partners LLC now owns 488 shares of the company's stock worth $45,000 after purchasing an additional 320 shares during the period.

Ollie's Bargain Outlet Stock Down 4.1%

Ollie's Bargain Outlet stock opened at $72.34 on Wednesday. The company has a 50 day moving average of $72.24 and a 200-day moving average of $84.76. Ollie's Bargain Outlet Holdings, Inc. has a twelve month low of $60.29 and a twelve month high of $139.21. The stock has a market capitalization of $4.37 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $658.93 million for the quarter, compared to analyst estimates of $661.65 million. Ollie's Bargain Outlet had a net margin of 9.13% and a return on equity of 13.43%. The firm's quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Equities analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OLLI shares. The Goldman Sachs Group decreased their price target on shares of Ollie's Bargain Outlet from $129.00 to $112.00 and set a "buy" rating for the company in a report on Monday, June 29th. JPMorgan Chase & Co. raised their price objective on Ollie's Bargain Outlet from $70.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 18th. UBS Group reduced their target price on Ollie's Bargain Outlet from $87.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday, August 27th. Gordon Haskett reissued an "accumulate" rating and issued a $90.00 target price (down from $100.00) on shares of Ollie's Bargain Outlet in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $121.00 price target on shares of Ollie's Bargain Outlet in a research report on Tuesday, August 25th. Thirteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $107.29.

About Ollie's Bargain Outlet

Ollie's Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.

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