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

Principal Financial Group Inc. trimmed its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,862 shares of the company’s stock after selling 1,689 shares during the quarter. Principal Financial Group Inc. owned 0.24% of Ollie’s Bargain Outlet worth $16,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OLLI. Congress Asset Management Co. boosted its stake in shares of 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 worth $210,307,000 after acquiring an additional 1,235,994 shares in the last quarter. Stephens Investment Management Group LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter worth about $78,356,000. Holocene Advisors LP boosted its stake in shares of Ollie’s Bargain Outlet by 10,159.3% during the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after acquiring an additional 466,818 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Ollie’s Bargain Outlet by 155.8% during the 3rd quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock worth $46,952,000 after acquiring an additional 294,217 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Ollie’s Bargain Outlet during the 3rd quarter worth about $16,590,000.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $99.00 on Wednesday. The firm has a 50 day simple moving average of $108.36 and a 200-day simple moving average of $100.44. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $68.05 and a 1-year high of $120.03. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results 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 business had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Bank of America increased their target price on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and upped their price target for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Finally, Piper Sandler upped their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and an average price target of $118.07.

Insider Buying and Selling

In related news, CEO John W. Swygert sold 54,318 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $5,275,008. This trade represents a 52.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at $357,803. The trade was a 62.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,939 shares of company stock valued at $8,745,031. Company insiders own 0.87% of the company’s stock.

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.