Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Ollie's Bargain Outlet Holdings, Inc. (NASDAQ:OLLI - Free Report) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,551 shares of the company's stock after selling 54,522 shares during the quarter. Principal Financial Group Inc. owned approximately 0.24% of Ollie's Bargain Outlet worth $14,536,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC purchased a new stake in shares of Ollie's Bargain Outlet in the 1st quarter worth about $841,000. Capital Research Global Investors purchased a new stake in shares of Ollie's Bargain Outlet in the first quarter valued at about $136,978,000. Seven Eight Capital LP grew its position in shares of Ollie's Bargain Outlet by 178.8% in the first quarter. Seven Eight Capital LP now owns 9,592 shares of the company's stock valued at $763,000 after purchasing an additional 6,151 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Ollie's Bargain Outlet by 953.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company's stock worth $55,637,000 after purchasing an additional 512,928 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in shares of Ollie's Bargain Outlet by 36.0% during the 2nd quarter. King Luther Capital Management Corp now owns 109,827 shares of the company's stock worth $10,782,000 after purchasing an additional 29,061 shares during the last quarter.

Ollie's Bargain Outlet Stock Down 0.6 %

Shares of OLLI stock traded down $0.60 on Friday, reaching $91.93. 752,969 shares of the stock were exchanged, compared to its average volume of 1,026,982. The stock has a market cap of $5.64 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 2.29 and a beta of 0.84. The firm has a 50 day moving average of $95.31 and a two-hundred day moving average of $91.90. Ollie's Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $104.98.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Ollie's Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company had revenue of $578.38 million during the quarter, compared to analyst estimates of $561.60 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The firm's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts predict that Ollie's Bargain Outlet Holdings, Inc. will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling at Ollie's Bargain Outlet

In related news, President Der Valk Eric Van sold 7,479 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the sale, the president now directly owns 5,615 shares in the company, valued at approximately $563,296.80. This trade represents a 57.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin Mclain sold 15,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,880 shares of company stock valued at $2,462,470 over the last ninety days. Corporate insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Ollie's Bargain Outlet from $100.00 to $106.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their target price on shares of Ollie's Bargain Outlet from $113.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday, August 30th. Piper Sandler reissued an "overweight" rating and issued a $107.00 price objective on shares of Ollie's Bargain Outlet in a research report on Friday, October 4th. Gordon Haskett raised shares of Ollie's Bargain Outlet from an "accumulate" rating to a "buy" rating and upped their price objective for the company from $105.00 to $107.00 in a research note on Monday, August 26th. Finally, Loop Capital reaffirmed a "buy" rating and issued a $110.00 target price on shares of Ollie's Bargain Outlet in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Ollie's Bargain Outlet presently has an average rating of "Moderate Buy" and a consensus target price of $104.92.

Ollie's Bargain Outlet 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.