California State Teachers Retirement System Lowers Stake in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

California State Teachers Retirement System reduced its holdings in shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,379 shares of the company’s stock after selling 534 shares during the period. California State Teachers Retirement System’s holdings in Ollie’s Bargain Outlet were worth $6,296,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. 111 Capital purchased a new position in Ollie’s Bargain Outlet during the 4th quarter valued at about $280,000. Wealth Enhancement Advisory Services LLC lifted its position in Ollie’s Bargain Outlet by 65.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,574 shares of the company’s stock valued at $721,000 after acquiring an additional 2,608 shares during the period. Jefferies Financial Group Inc. lifted its position in Ollie’s Bargain Outlet by 20.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 3,628 shares of the company’s stock valued at $398,000 after acquiring an additional 611 shares during the period. ABLE Financial Group LLC lifted its position in Ollie’s Bargain Outlet by 34.3% during the 4th quarter. ABLE Financial Group LLC now owns 8,705 shares of the company’s stock valued at $955,000 after acquiring an additional 2,224 shares during the period. Finally, Pullen Investment Management LLC lifted its position in Ollie’s Bargain Outlet by 46.0% during the 4th quarter. Pullen Investment Management LLC now owns 6,217 shares of the company’s stock valued at $682,000 after acquiring an additional 1,960 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OLLI. Piper Sandler decreased their target price on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Royal Bank of Canada lifted their target price 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. Wall Street Zen raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Finally, KeyCorp lifted their target price on shares of Ollie’s Bargain Outlet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $124.07.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 6,526 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $107.87, for a total value of $703,959.62. Following the completion of the transaction, the chairman now directly owns 53,432 shares in the company, valued at $5,763,709.84. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert F. Helm sold 312 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the transaction, the chief financial officer now owns 3,273 shares of the company’s stock, valued at approximately $350,767.41. The trade was a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,897 shares of company stock worth $4,227,970 over the last three months. 0.75% of the stock is currently owned by company insiders.

Ollie’s Bargain Outlet Trading Down 0.7%

Shares of NASDAQ OLLI opened at $110.95 on Monday. The firm has a 50 day moving average of $111.56 and a 200 day moving average of $107.59. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 33.12, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. Ollie’s Bargain Outlet Holdings, Inc. has a 12-month low of $81.15 and a 12-month high of $122.15.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Sell-side analysts predict 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.