US Bancorp DE Reduces Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Key Points

• US Bancorp DE reduced its stake in Ollie's Bargain Outlet by 9.8% to 37,535 shares, worth approximately $4.37 million, after selling 4,073 shares.
• Ollie's Bargain Outlet reported a quarterly earnings of $0.75 EPS, exceeding analysts' estimates of $0.70, with a revenue of $576.77 million, up 13.4% year-over-year.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Ollie's, with an average target price of $126.79, reflecting optimistic growth expectations for the company.

US Bancorp DE lessened its holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 9.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 37,535 shares of the company's stock after selling 4,073 shares during the period. US Bancorp DE owned 0.06% of Ollie's Bargain Outlet worth $4,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Next Century Growth Investors LLC raised its stake in Ollie's Bargain Outlet by 27.6% during the 4th quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company's stock valued at $17,791,000 after purchasing an additional 35,075 shares during the period. Caxton Associates LP purchased a new stake in Ollie's Bargain Outlet during the 4th quarter valued at approximately $438,000. Schonfeld Strategic Advisors LLC grew its holdings in Ollie's Bargain Outlet by 85.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock valued at $636,000 after buying an additional 2,668 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Ollie's Bargain Outlet by 63.8% during the first quarter. Teacher Retirement System of Texas now owns 11,711 shares of the company's stock valued at $1,363,000 after buying an additional 4,563 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Ollie's Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock worth $180,558,000 after buying an additional 17,302 shares in the last quarter.

Insider Transactions at Ollie's Bargain Outlet

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 728 shares of Ollie's Bargain Outlet stock in a transaction on Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the transaction, the chief executive officer directly owned 7,761 shares of the company's stock, valued at $875,828.85. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Ollie's Bargain Outlet Trading Up 1.7%

Shares of NASDAQ:OLLI traded up $2.38 during trading on Wednesday, reaching $140.80. The company's stock had a trading volume of 655,190 shares, compared to its average volume of 853,531. The stock has a market capitalization of $8.64 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 3.11 and a beta of 0.40. Ollie's Bargain Outlet Holdings, Inc. has a 12 month low of $86.05 and a 12 month high of $141.74. The firm's 50 day simple moving average is $126.75 and its two-hundred day simple moving average is $114.87.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.05. The business had revenue of $576.77 million for the quarter, compared to the consensus estimate of $565.04 million. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 earnings per share. Research analysts anticipate that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OLLI shares. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. raised their price objective on 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. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (down from $124.00) on shares of Ollie's Bargain Outlet in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $133.00 price target on shares of Ollie's Bargain Outlet in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $126.79.

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.