Rheos Capital Works Inc. Sells 35,000 Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)

Rheos Capital Works Inc. cut its holdings in Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,000 shares of the company’s stock after selling 35,000 shares during the quarter. Ollie’s Bargain Outlet accounts for approximately 1.8% of Rheos Capital Works Inc.’s holdings, making the stock its 21st largest position. Rheos Capital Works Inc. owned approximately 0.32% of Ollie’s Bargain Outlet worth $22,457,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Ollie’s Bargain Outlet by 59.2% during the third quarter. Barclays PLC now owns 41,307 shares of the company’s stock valued at $4,014,000 after purchasing an additional 15,357 shares in the last quarter. Blue Trust Inc. lifted its stake in Ollie’s Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. DAVENPORT & Co LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at about $225,000. Retirement Systems of Alabama grew its stake in shares of Ollie’s Bargain Outlet by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 74,594 shares of the company’s stock worth $8,185,000 after acquiring an additional 243 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in shares of Ollie’s Bargain Outlet during the fourth quarter valued at approximately $228,000.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,139 shares of Ollie’s Bargain Outlet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $115.74, for a total value of $247,567.86. Following the sale, the chief financial officer now directly owns 2,961 shares in the company, valued at approximately $342,706.14. The trade was a 41.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Fisch sold 6,250 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $108.08, for a total value of $675,500.00. Following the transaction, the director now owns 22,159 shares of the company’s stock, valued at approximately $2,394,944.72. The trade was a 22.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on OLLI. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $133.00 target price on shares of Ollie’s Bargain Outlet in a research report on Wednesday, June 4th. Wall Street Zen upgraded Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Morgan Stanley upped their price objective on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Truist Financial raised their target price on Ollie’s Bargain Outlet from $126.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, KeyCorp restated an “overweight” rating and set a $135.00 price target on shares of Ollie’s Bargain Outlet in a research note on Wednesday, June 4th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $124.50.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $119.37 on Monday. The company has a market capitalization of $7.32 billion, a P/E ratio of 35.63, a P/E/G ratio of 2.21 and a beta of 0.37. Ollie’s Bargain Outlet Holdings, Inc. has a 1-year low of $82.84 and a 1-year high of $122.15. The firm’s 50 day simple moving average is $111.66 and its two-hundred day simple moving average is $108.43.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Tuesday, June 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $576.77 million for the quarter, compared to analysts’ expectations of $565.04 million. During the same quarter in the previous year, the company earned $0.73 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Ollie’s Bargain Outlet Profile

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.