Bank of New York Mellon Corp Reduces Stock Position in Ollie’s Bargain Outlet Holdings, Inc. $OLLI

Bank of New York Mellon Corp cut its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 11.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 411,234 shares of the company’s stock after selling 50,909 shares during the period. Bank of New York Mellon Corp’s holdings in Ollie’s Bargain Outlet were worth $37,850,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OLLI. Thrivent Financial for Lutherans increased its stake in Ollie’s Bargain Outlet by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 14,458 shares of the company’s stock worth $1,905,000 after acquiring an additional 91 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ollie’s Bargain Outlet by 49.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 279 shares of the company’s stock valued at $31,000 after purchasing an additional 92 shares during the last quarter. Dana Investment Advisors Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 2.5% in the 4th quarter. Dana Investment Advisors Inc. now owns 5,649 shares of the company’s stock valued at $619,000 after purchasing an additional 137 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Ollie’s Bargain Outlet by 5.8% in the 2nd quarter. Lazard Asset Management LLC now owns 2,508 shares of the company’s stock valued at $330,000 after purchasing an additional 138 shares during the last quarter. Finally, Madison Asset Management LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 23,222 shares of the company’s stock worth $2,545,000 after purchasing an additional 149 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OLLI. Weiss Ratings downgraded Ollie’s Bargain Outlet from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Piper Sandler set a $114.00 price target on Ollie’s Bargain Outlet in a research report on Wednesday, June 3rd. Jefferies Financial Group raised shares of Ollie’s Bargain Outlet from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $120.00 to $130.00 in a research note on Thursday, April 2nd. Truist Financial cut their price objective on shares of Ollie’s Bargain Outlet from $112.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, UBS Group set a $80.00 target price on shares of Ollie’s Bargain Outlet in a research note on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and an average price target of $113.13.

Ollie’s Bargain Outlet Stock Performance

OLLI opened at $66.31 on Friday. The stock’s 50 day moving average price is $74.61 and its 200-day moving average price is $92.13. Ollie’s Bargain Outlet Holdings, Inc. has a one year low of $60.29 and a one year high of $141.74. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.17 and a beta of 0.47.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Ollie’s Bargain Outlet had a return on equity of 13.43% and a net margin of 9.13%.The firm had revenue of $658.93 million during the quarter, compared to analyst estimates of $661.65 million. During the same period last year, the company earned $0.75 EPS. Ollie’s Bargain Outlet’s quarterly revenue was up 14.2% compared to the same quarter last year. Ollie’s Bargain Outlet has set its FY 2026 guidance at 4.450-4.550 EPS. As a group, analysts predict that Ollie’s Bargain Outlet Holdings, Inc. will post 4.45 earnings per share for the current fiscal year.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.