California Public Employees Retirement System Trims Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

California Public Employees Retirement System trimmed its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,757 shares of the company's stock after selling 23,883 shares during the period. California Public Employees Retirement System owned about 0.13% of Ollie's Bargain Outlet worth $8,532,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ollie's Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock valued at $25,000 after buying an additional 191 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Ollie's Bargain Outlet by 337.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after acquiring an additional 182 shares during the period. Bogart Wealth LLC bought a new position in Ollie's Bargain Outlet in the 4th quarter valued at $26,000. Blue Trust Inc. increased its stake in Ollie's Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after purchasing an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Ollie's Bargain Outlet during the fourth quarter worth $33,000.

Ollie's Bargain Outlet Stock Up 1.0 %

Shares of NASDAQ OLLI traded up $1.17 during mid-day trading on Friday, reaching $114.42. 1,375,912 shares of the company were exchanged, compared to its average volume of 1,127,942. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $70.17 and a 1 year high of $120.03. The firm has a 50-day moving average of $106.14 and a 200 day moving average of $103.35. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 34.16, a P/E/G ratio of 2.21 and a beta of 0.75.

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Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $667.10 million for the quarter, compared to analysts' expectations of $674.61 million. During the same period in the previous year, the company posted $1.23 earnings per share. The business's quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Ollie's Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Fisch sold 6,250 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $108.08, for a total transaction of $675,500.00. Following the sale, the director now owns 22,159 shares in the company, valued at approximately $2,394,944.72. The trade was a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert F. Helm sold 312 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $107.17, for a total transaction of $33,437.04. Following the transaction, the chief financial officer now owns 3,273 shares in the company, valued at approximately $350,767.41. This trade represents a 8.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group cut shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and cut their price target for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. UBS Group upped their target price on shares of Ollie's Bargain Outlet from $117.00 to $123.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Royal Bank of Canada lifted their price target on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Piper Sandler dropped their price objective on Ollie's Bargain Outlet from $126.00 to $124.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Finally, Morgan Stanley raised their price objective on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $123.08.

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.