Geode Capital Management LLC Increases Stock Holdings in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Geode Capital Management LLC boosted its stake in Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,082,660 shares of the company's stock after purchasing an additional 4,116 shares during the period. Geode Capital Management LLC owned about 1.77% of Ollie's Bargain Outlet worth $118,837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. boosted its holdings in 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 valued at $210,307,000 after acquiring an additional 1,235,994 shares during the period. Norges Bank purchased a new position in Ollie's Bargain Outlet in the 4th quarter valued at approximately $80,741,000. Stephens Investment Management Group LLC acquired a new position in shares of Ollie's Bargain Outlet in the fourth quarter worth $78,356,000. Raymond James Financial Inc. purchased a new stake in shares of Ollie's Bargain Outlet during the fourth quarter worth $48,633,000. Finally, Wellington Management Group LLP raised its stake in shares of Ollie's Bargain Outlet by 155.8% in the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company's stock valued at $46,952,000 after acquiring an additional 294,217 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and reduced their target price for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. Piper Sandler lowered 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 report on Thursday, March 20th. Citigroup upgraded Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and increased their price objective for the company from $64.00 to $133.00 in a report on Wednesday, December 18th. Morgan Stanley boosted their target price on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada raised their price objective on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Ollie's Bargain Outlet has an average rating of "Moderate Buy" and a consensus target price of $123.08.

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Insider Activity at Ollie's Bargain Outlet

In related news, CEO Der Valk Eric Van sold 1,153 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $110.85, for a total value of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares of the company's stock, valued at approximately $750,232.80. This trade represents a 14.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James J. Comitale sold 5,485 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $113.53, for a total transaction of $622,712.05. Following the transaction, the senior vice president now directly owns 4,621 shares of the company's stock, valued at $524,622.13. This trade represents a 54.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,897 shares of company stock valued at $4,227,970. Company insiders own 0.87% of the company's stock.

Ollie's Bargain Outlet Price Performance

OLLI traded down $0.22 during trading on Monday, reaching $114.20. 71,325 shares of the stock were exchanged, compared to its average volume of 1,125,329. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 34.09, a P/E/G ratio of 2.21 and a beta of 0.75. Ollie's Bargain Outlet Holdings, Inc. has a 1 year low of $70.17 and a 1 year high of $120.03. The business's 50 day moving average price is $106.14 and its two-hundred day moving average price is $103.38.

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