Panagora Asset Management Inc. purchased a new position in Five Below Inc (NASDAQ:FIVE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,565 shares of the specialty retailer’s stock, valued at approximately $6,446,000.
A number of other hedge funds have also made changes to their positions in FIVE. FMR LLC lifted its stake in Five Below by 105.4% in the second quarter. FMR LLC now owns 2,277,943 shares of the specialty retailer’s stock worth $222,578,000 after acquiring an additional 1,168,796 shares during the period. Renaissance Technologies LLC lifted its stake in Five Below by 451.4% in the second quarter. Renaissance Technologies LLC now owns 1,382,400 shares of the specialty retailer’s stock worth $135,074,000 after acquiring an additional 1,131,700 shares during the period. American Century Companies Inc. purchased a new stake in Five Below in the third quarter worth $43,017,000. BlackRock Inc. lifted its stake in Five Below by 5.2% in the third quarter. BlackRock Inc. now owns 6,575,425 shares of the specialty retailer’s stock worth $855,199,000 after acquiring an additional 322,174 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in Five Below by 1,022.2% in the second quarter. CIBC Private Wealth Group LLC now owns 231,595 shares of the specialty retailer’s stock worth $22,629,000 after acquiring an additional 210,958 shares during the period. 95.42% of the stock is owned by institutional investors.
In other news, EVP Michael Romanko sold 3,308 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $126.00, for a total transaction of $416,808.00. Following the completion of the transaction, the executive vice president now directly owns 18,092 shares in the company, valued at $2,279,592. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Kaufman sold 3,995 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $133.18, for a total value of $532,054.10. Following the transaction, the director now owns 5,047 shares of the company’s stock, valued at $672,159.46. The disclosure for this sale can be found here. Insiders have sold 19,303 shares of company stock valued at $2,346,022 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.
Several equities analysts have commented on the company. Credit Suisse Group raised their price objective on Five Below from $110.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, September 7th. Morgan Stanley raised their price objective on Five Below from $94.00 to $103.00 and gave the company a “hold” rating in a research report on Friday, September 7th. Loop Capital raised their price objective on Five Below from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, September 7th. BidaskClub lowered Five Below from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 20th. Finally, MKM Partners raised their price objective on Five Below to $132.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $119.00.
Shares of NASDAQ:FIVE opened at $104.58 on Thursday. Five Below Inc has a 1-year low of $60.00 and a 1-year high of $136.13. The firm has a market cap of $5.83 billion, a PE ratio of 58.42, a P/E/G ratio of 1.37 and a beta of 0.52.
Five Below (NASDAQ:FIVE) last issued its quarterly earnings results on Wednesday, December 5th. The specialty retailer reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Five Below had a return on equity of 25.97% and a net margin of 8.83%. On average, sell-side analysts anticipate that Five Below Inc will post 2.54 EPS for the current fiscal year.
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Five Below Company Profile
Five Below, Inc operates as a specialty value retailer in the United States. It offers accessories, including novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and T-shirts, as well as beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, including glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, and related items, as well as provides storage options for the customers room.
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