Norges Bank Acquires Shares of 322,879 Five Below, Inc. (NASDAQ:FIVE)

Norges Bank acquired a new stake in shares of Five Below, Inc. (NASDAQ:FIVE) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 322,879 shares of the specialty retailer’s stock, valued at approximately $68,825,000.

Several other institutional investors have also added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its holdings in Five Below by 4.7% during the fourth quarter. Lindbrook Capital LLC now owns 1,320 shares of the specialty retailer’s stock valued at $281,000 after purchasing an additional 59 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Five Below by 2.2% in the third quarter. Kestra Advisory Services LLC now owns 3,103 shares of the specialty retailer’s stock worth $499,000 after buying an additional 67 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Five Below by 2.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,270 shares of the specialty retailer’s stock worth $526,000 after buying an additional 71 shares in the last quarter. Wealth Alliance lifted its holdings in shares of Five Below by 3.7% in the fourth quarter. Wealth Alliance now owns 2,090 shares of the specialty retailer’s stock worth $446,000 after buying an additional 75 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its holdings in shares of Five Below by 3.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,530 shares of the specialty retailer’s stock worth $540,000 after buying an additional 75 shares in the last quarter.

Five Below Price Performance

Shares of NASDAQ FIVE opened at $132.99 on Monday. Five Below, Inc. has a one year low of $128.64 and a one year high of $216.18. The firm’s 50 day simple moving average is $156.30 and its two-hundred day simple moving average is $180.67. The stock has a market capitalization of $7.35 billion, a P/E ratio of 24.54, a PEG ratio of 1.07 and a beta of 1.21.

Five Below (NASDAQ:FIVE) last issued its quarterly earnings results on Wednesday, March 20th. The specialty retailer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.13). Five Below had a net margin of 8.46% and a return on equity of 20.80%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the business earned $3.07 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. As a group, equities analysts expect that Five Below, Inc. will post 6.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FIVE shares. Truist Financial lowered their price target on shares of Five Below from $214.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Telsey Advisory Group lowered their price target on shares of Five Below from $230.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Craig Hallum lowered their price target on shares of Five Below from $195.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, March 21st. Morgan Stanley lowered their target price on shares of Five Below from $225.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. downgraded shares of Five Below from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $215.00 to $170.00 in a research note on Tuesday, April 23rd. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.33.

Five Below 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.