Principal Financial Group Inc. Reduces Stock Position in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Principal Financial Group Inc. lessened its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 26.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,551 shares of the company’s stock after selling 54,522 shares during the period. Principal Financial Group Inc. owned about 0.24% of Ollie’s Bargain Outlet worth $14,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLLI. International Assets Investment Management LLC bought a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in Ollie’s Bargain Outlet by 37.9% in the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after buying an additional 179 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in Ollie’s Bargain Outlet during the 3rd quarter valued at approximately $117,000. LRI Investments LLC raised its position in shares of Ollie’s Bargain Outlet by 2,356.1% in the 3rd quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after acquiring an additional 1,343 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at approximately $151,000.

Ollie’s Bargain Outlet Stock Performance

NASDAQ OLLI opened at $117.60 on Friday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.79 and a beta of 0.85. The stock has a 50-day moving average of $100.74 and a 200 day moving average of $97.56. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $68.05 and a one year high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 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 $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the previous year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OLLI. Truist Financial upped their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Loop Capital increased their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Monday, December 23rd. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and raised their target price for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price target on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.62.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at $4,942,428. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total transaction of $227,326.68. Following the completion of the transaction, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. This trade represents a 54.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,172 shares of company stock valued at $9,878,158 over the last 90 days. Company insiders own 0.87% of the company’s stock.

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.