Retirement Systems of Alabama Boosts Stake in Ollie’s Bargain Outlet Holdings, Inc. $OLLI

Retirement Systems of Alabama raised its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 75,048 shares of the company’s stock after acquiring an additional 467 shares during the period. Retirement Systems of Alabama’s holdings in Ollie’s Bargain Outlet were worth $9,890,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Geneva Capital Management LLC lifted its stake in Ollie’s Bargain Outlet by 1.1% during the first quarter. Geneva Capital Management LLC now owns 1,049,459 shares of the company’s stock worth $122,115,000 after purchasing an additional 10,913 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Ollie’s Bargain Outlet by 25.5% during the first quarter. Bank of New York Mellon Corp now owns 881,996 shares of the company’s stock worth $102,629,000 after purchasing an additional 179,452 shares during the last quarter. Wellington Management Group LLP lifted its stake in Ollie’s Bargain Outlet by 268.0% during the first quarter. Wellington Management Group LLP now owns 844,799 shares of the company’s stock worth $98,301,000 after purchasing an additional 615,257 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Ollie’s Bargain Outlet by 130.3% during the first quarter. Ameriprise Financial Inc. now owns 828,743 shares of the company’s stock worth $96,428,000 after purchasing an additional 468,944 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in Ollie’s Bargain Outlet by 0.8% during the second quarter. Stephens Investment Management Group LLC now owns 816,087 shares of the company’s stock worth $107,544,000 after purchasing an additional 6,805 shares during the last quarter.

Insider Activity at Ollie’s Bargain Outlet

In related news, SVP Larry Kraus sold 8,921 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $130.31, for a total transaction of $1,162,495.51. Following the transaction, the senior vice president owned 3,679 shares in the company, valued at $479,410.49. The trade was a 70.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman John W. Swygert sold 107,058 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $132.87, for a total value of $14,224,796.46. Following the transaction, the chairman owned 48,200 shares in the company, valued at approximately $6,404,334. This represents a 68.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 128,890 shares of company stock worth $17,057,659 over the last 90 days. 0.75% of the stock is owned by insiders.

Ollie’s Bargain Outlet Trading Down 0.5%

NASDAQ OLLI opened at $120.81 on Monday. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $86.88 and a 1-year high of $141.74. The firm has a market cap of $7.41 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 2.46 and a beta of 0.42. The stock has a 50-day moving average of $128.58 and a 200-day moving average of $124.78.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Thursday, August 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. Ollie’s Bargain Outlet had a return on equity of 12.66% and a net margin of 8.74%.The company had revenue of $679.56 million for the quarter, compared to the consensus estimate of $658.03 million. During the same quarter in the previous year, the business earned $0.78 EPS. Ollie’s Bargain Outlet’s revenue was up 17.5% compared to the same quarter last year. Ollie’s Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. As a group, equities research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OLLI shares. Wells Fargo & Company lifted their price target on Ollie’s Bargain Outlet from $105.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Friday, August 29th. Craig Hallum set a $156.00 price target on Ollie’s Bargain Outlet in a research note on Friday, August 29th. Royal Bank Of Canada dropped their price target on Ollie’s Bargain Outlet from $149.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Morgan Stanley boosted their target price on Ollie’s Bargain Outlet from $118.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, August 29th. Finally, Jefferies Financial Group boosted their target price on Ollie’s Bargain Outlet from $111.00 to $135.00 and gave the company a “hold” rating in a research note on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.00.

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.