State Street Corp raised its stake in shares of Five Below, Inc. (NASDAQ:FIVE) by 6.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,427 shares of the specialty retailer’s stock after buying an additional 79,961 shares during the period. State Street Corp owned 2.54% of Five Below worth $60,437,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of FIVE. Bank of America Corp DE raised its stake in shares of Five Below by 21.1% in the first quarter. Bank of America Corp DE now owns 677,630 shares of the specialty retailer’s stock valued at $29,348,000 after buying an additional 118,128 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Five Below during the first quarter valued at approximately $3,516,000. Logan Capital Management Inc. raised its stake in shares of Five Below by 1.2% in the first quarter. Logan Capital Management Inc. now owns 23,964 shares of the specialty retailer’s stock valued at $1,037,000 after buying an additional 275 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Five Below by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 278,012 shares of the specialty retailer’s stock valued at $12,041,000 after buying an additional 25,041 shares during the last quarter. Finally, Invictus RG acquired a new stake in shares of Five Below during the first quarter valued at approximately $183,000.
Five Below, Inc. (NASDAQ:FIVE) opened at 49.70 on Wednesday. The firm’s 50 day moving average price is $47.84 and its 200-day moving average price is $45.32. Five Below, Inc. has a 52 week low of $35.03 and a 52 week high of $54.13. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 37.40 and a beta of 0.94.
Five Below (NASDAQ:FIVE) last posted its quarterly earnings data on Thursday, June 1st. The specialty retailer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Five Below had a net margin of 7.06% and a return on equity of 24.02%. The firm had revenue of $232.90 million for the quarter, compared to analysts’ expectations of $230.75 million. During the same period in the previous year, the company posted $0.12 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts expect that Five Below, Inc. will post $1.64 EPS for the current year.
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Several research firms have recently weighed in on FIVE. BidaskClub upgraded Five Below from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS AG downgraded Five Below from a “buy” rating to a “neutral” rating and decreased their target price for the company from $59.00 to $52.00 in a research report on Monday, July 10th. Loop Capital reiterated a “buy” rating and set a $60.00 price objective on shares of Five Below in a research report on Friday, June 30th. Morgan Stanley restated an “equal weight” rating and issued a $47.00 target price (up previously from $40.00) on shares of Five Below in a research report on Saturday, June 3rd. Finally, BTIG Research restated a “neutral” rating on shares of Five Below in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $53.74.
In other news, CFO Kenneth R. Bull sold 17,300 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $53.90, for a total transaction of $932,470.00. Following the transaction, the chief financial officer now directly owns 76,544 shares in the company, valued at approximately $4,125,721.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.92% of the company’s stock.
About Five Below
Five Below, Inc is a specialty retailer offering a range of merchandise for teen and pre-teen customer. The Company offers an assortment of products, including select brands and licensed merchandise across a range of categories, including Style, Room, Sports, Tech, Crafts, Party, Candy and Now. Its product groups include leisure, fashion and home, and party and snack.
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