Northern Trust Corp Raises Stock Position in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Northern Trust Corp boosted its holdings in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 555,660 shares of the company's stock after acquiring an additional 86,569 shares during the quarter. Northern Trust Corp owned about 0.91% of Ollie's Bargain Outlet worth $60,973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Ollie's Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock valued at $638,843,000 after buying an additional 70,496 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Ollie's Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company's stock worth $509,671,000 after acquiring an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of Ollie's Bargain Outlet by 181.6% during the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company's stock worth $210,307,000 after purchasing an additional 1,235,994 shares during the period. Invesco Ltd. increased its holdings in Ollie's Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock valued at $180,558,000 after purchasing an additional 17,302 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Ollie's Bargain Outlet by 12.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company's stock valued at $178,813,000 after purchasing an additional 186,313 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler dropped their price objective on Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. Morgan Stanley increased their price target on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Royal Bank of Canada lifted their price objective on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a report on Friday, March 7th. Jefferies Financial Group lowered shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and reduced their target price for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $123.08.

Insider Buying and Selling

In other Ollie's Bargain Outlet news, CEO Der Valk Eric Van sold 1,153 shares of Ollie's Bargain Outlet stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $110.85, for a total value of $127,810.05. Following the transaction, the chief executive officer now directly owns 6,768 shares in the company, valued at approximately $750,232.80. This trade represents a 14.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin Mclain sold 4,799 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $115.56, for a total value of $554,572.44. Following the sale, the senior vice president now directly owns 12,336 shares of the company's stock, valued at approximately $1,425,548.16. This represents a 28.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock worth $4,227,970 in the last 90 days. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Price Performance

Shares of Ollie's Bargain Outlet stock traded down $2.77 during trading hours on Friday, hitting $106.17. The company had a trading volume of 812,714 shares, compared to its average volume of 1,150,826. The company's 50-day moving average is $108.40 and its two-hundred day moving average is $105.23. The company has a market cap of $6.52 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. Ollie's Bargain Outlet Holdings, Inc. has a twelve month low of $72.19 and a twelve month high of $120.03.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $674.61 million. Ollie's Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. Sell-side analysts expect that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 EPS 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.