KLP Kapitalforvaltning AS Trims Holdings in Five Below, Inc. (NASDAQ:FIVE)

KLP Kapitalforvaltning AS cut its stake in Five Below, Inc. (NASDAQ:FIVE) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,900 shares of the specialty retailer’s stock after selling 700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Five Below were worth $817,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FIVE. Corient Private Wealth LLC purchased a new position in shares of Five Below in the fourth quarter valued at $256,000. LPL Financial LLC grew its position in shares of Five Below by 515.3% in the fourth quarter. LPL Financial LLC now owns 66,226 shares of the specialty retailer’s stock valued at $6,951,000 after purchasing an additional 55,462 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Five Below by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 5,047,563 shares of the specialty retailer’s stock valued at $529,792,000 after purchasing an additional 43,537 shares in the last quarter. Prudential Financial Inc. grew its position in Five Below by 236.1% during the fourth quarter. Prudential Financial Inc. now owns 11,438 shares of the specialty retailer’s stock worth $1,201,000 after buying an additional 8,035 shares in the last quarter. Finally, Norges Bank purchased a new position in Five Below during the fourth quarter worth about $66,933,000.

Insiders Place Their Bets

In other Five Below news, insider George Hill sold 1,500 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $140.00, for a total value of $210,000.00. Following the completion of the sale, the insider owned 42,672 shares in the company, valued at approximately $5,974,080. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Eric M. Specter sold 5,500 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.77, for a total value of $719,235.00. Following the completion of the transaction, the chief accounting officer directly owned 55,854 shares of the company’s stock, valued at $7,304,027.58. This represents a 8.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,200 shares of company stock worth $1,740,209. 1.90% of the stock is currently owned by company insiders.

Five Below Price Performance

Shares of FIVE stock opened at $139.41 on Wednesday. Five Below, Inc. has a 1-year low of $52.38 and a 1-year high of $143.88. The business has a 50-day moving average of $127.18 and a 200 day moving average of $98.19. The stock has a market capitalization of $7.68 billion, a PE ratio of 29.23 and a beta of 1.04.

Five Below (NASDAQ:FIVE) last released its quarterly earnings data on Wednesday, June 4th. The specialty retailer reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. Five Below had a return on equity of 17.00% and a net margin of 6.52%. The business had revenue of $970.53 million during the quarter, compared to analysts’ expectations of $966.29 million. During the same quarter last year, the business posted $0.60 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Analysts anticipate that Five Below, Inc. will post 4.93 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on FIVE. Mizuho boosted their target price on Five Below from $88.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 3rd. Morgan Stanley boosted their target price on Five Below from $110.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 5th. Bank of America upped their price objective on Five Below from $78.00 to $93.00 and gave the stock an “underperform” rating in a report on Thursday, June 5th. Wells Fargo & Company upped their price objective on Five Below from $115.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, June 5th. Finally, DA Davidson cut their price objective on Five Below from $50.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $119.00.

Five Below Company Profile

Five Below, Inc operates as a specialty value retailer in the United States. The company offers range of accessories, which includes novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and t-shirts, as well as nail polish, lip gloss, fragrance, and branded cosmetics; and personalized living space products, such as lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.