Jennison Associates LLC Takes $10.50 Million Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Jennison Associates LLC purchased a new stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 138,334 shares of the company’s stock, valued at approximately $10,498,000. Jennison Associates LLC owned approximately 0.22% of Ollie’s Bargain Outlet at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Ollie’s Bargain Outlet by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,495,026 shares of the company’s stock worth $424,106,000 after purchasing an additional 54,941 shares during the period. Wellington Management Group LLP boosted its stake in shares of Ollie’s Bargain Outlet by 141.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock worth $83,037,000 after acquiring an additional 630,298 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Ollie’s Bargain Outlet by 76.1% in the 3rd quarter. Invesco Ltd. now owns 831,522 shares of the company’s stock worth $64,177,000 after acquiring an additional 359,371 shares during the period. Fred Alger Management LLC increased its stake in Ollie’s Bargain Outlet by 5.5% in the 3rd quarter. Fred Alger Management LLC now owns 764,027 shares of the company’s stock valued at $58,968,000 after purchasing an additional 39,693 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Ollie’s Bargain Outlet by 12.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 722,440 shares of the company’s stock worth $55,758,000 after purchasing an additional 81,215 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial raised their price target on Ollie’s Bargain Outlet from $78.00 to $80.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their target price on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. Royal Bank of Canada reissued an “outperform” rating and set a $86.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Thursday, March 21st. Loop Capital raised Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $90.00 in a research note on Friday, April 5th. Finally, The Goldman Sachs Group raised their price target on Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.92.

Ollie’s Bargain Outlet Stock Down 0.5 %

NASDAQ:OLLI opened at $74.35 on Friday. The company has a market cap of $4.56 billion, a P/E ratio of 25.46 and a beta of 0.76. The firm’s 50 day moving average is $75.84 and its two-hundred day moving average is $75.10. Ollie’s Bargain Outlet Holdings, Inc. has a fifty-two week low of $52.93 and a fifty-two week high of $84.38.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.07. Ollie’s Bargain Outlet had a return on equity of 12.55% and a net margin of 8.63%. The business had revenue of $648.90 million during the quarter, compared to analysts’ expectations of $649.39 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. Research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John W. Swygert sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.57, for a total transaction of $412,850.00. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $3,979,874. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 5,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.57, for a total transaction of $412,850.00. Following the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $3,979,874. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John W. Swygert sold 11,756 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $75.22, for a total transaction of $884,286.32. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $3,625,604. The disclosure for this sale can be found here. Insiders have sold a total of 27,171 shares of company stock worth $2,084,338 over the last quarter. 0.86% of the stock is owned by corporate insiders.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.