Bank of Nova Scotia Purchases New Stake in Five Below, Inc. (FIVE)

Bank of Nova Scotia acquired a new position in shares of Five Below, Inc. (NASDAQ:FIVE) during the first quarter, Holdings Channel reports. The institutional investor acquired 112,000 shares of the specialty retailer’s stock, valued at approximately $4,851,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Five Below by 27,003.0% in the first quarter. BlackRock Inc. now owns 6,826,168 shares of the specialty retailer’s stock worth $295,641,000 after buying an additional 6,800,982 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Five Below during the first quarter worth about $31,188,000. Lazard Asset Management LLC bought a new stake in shares of Five Below during the first quarter worth about $27,250,000. Norges Bank bought a new stake in shares of Five Below during the fourth quarter worth about $16,879,000. Finally, FMR LLC increased its stake in shares of Five Below by 111.2% in the first quarter. FMR LLC now owns 715,096 shares of the specialty retailer’s stock worth $30,970,000 after buying an additional 376,527 shares during the period.

Shares of Five Below, Inc. (NASDAQ FIVE) traded up 0.30% during midday trading on Tuesday, hitting $48.48. The stock had a trading volume of 185,022 shares. The firm’s 50 day moving average price is $51.19 and its 200 day moving average price is $43.74. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 36.48 and a beta of 0.95. Five Below, Inc. has a 52-week low of $35.03 and a 52-week high of $54.13.

Five Below (NASDAQ:FIVE) last released its quarterly earnings data on Thursday, June 1st. The specialty retailer reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Five Below had a return on equity of 24.02% and a net margin of 7.06%. 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 prior year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts expect that Five Below, Inc. will post $1.64 earnings per share for the current year.

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FIVE has been the topic of a number of recent research reports. Vetr upgraded Five Below from a “hold” rating to a “buy” rating and set a $47.56 price objective on the stock in a research report on Tuesday, April 18th. Loop Capital restated a “buy” rating and set a $54.00 price objective on shares of Five Below in a research report on Wednesday, May 3rd. Gordon Haskett initiated coverage on Five Below in a research report on Tuesday, May 9th. They set an “accumulate” rating and a $57.00 price objective on the stock. Deutsche Bank AG upped their price objective on Five Below from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, March 23rd. Finally, Zacks Investment Research upgraded Five Below from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $53.85.

In related news, CFO Kenneth R. Bull sold 17,300 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $53.90, for a total value of $932,470.00. Following the transaction, the chief financial officer now directly owns 76,544 shares in the company, valued at $4,125,721.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.92% of the company’s stock.

Five Below Company Profile

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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Institutional Ownership by Quarter for Five Below (NASDAQ:FIVE)

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