Point72 Asset Management L.P. Reduces Stock Holdings in Five Below, Inc. (NASDAQ:FIVE)

Point72 Asset Management L.P. lowered its position in Five Below, Inc. (NASDAQ:FIVE) by 49.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 455,274 shares of the specialty retailer’s stock after selling 453,151 shares during the quarter. Point72 Asset Management L.P. owned 0.83% of Five Below worth $40,223,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Invenomic Capital Management LP increased its position in shares of Five Below by 422.4% in the third quarter. Invenomic Capital Management LP now owns 199,120 shares of the specialty retailer’s stock valued at $17,592,000 after buying an additional 161,006 shares in the last quarter. Holocene Advisors LP purchased a new stake in Five Below during the 3rd quarter worth about $38,829,000. Cinctive Capital Management LP purchased a new stake in Five Below during the 3rd quarter worth about $5,405,000. Concentric Capital Strategies LP purchased a new stake in Five Below during the 3rd quarter worth about $2,394,000. Finally, Ascent Group LLC increased its position in Five Below by 10.4% during the 3rd quarter. Ascent Group LLC now owns 25,458 shares of the specialty retailer’s stock worth $2,249,000 after purchasing an additional 2,390 shares in the last quarter.

Analysts Set New Price Targets

FIVE has been the subject of a number of recent research reports. KeyCorp cut Five Below from an “overweight” rating to a “sector weight” rating in a research report on Thursday, November 7th. Gordon Haskett upgraded Five Below from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Thursday, November 7th. Evercore ISI lifted their price target on Five Below from $100.00 to $104.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price target on Five Below from $124.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Finally, Melius Research began coverage on Five Below in a report on Monday, September 23rd. They issued a “hold” rating and a $100.00 price target for the company. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $106.60.

Five Below Stock Up 1.7 %

Shares of FIVE opened at $104.97 on Thursday. The business’s 50 day moving average is $90.69 and its two-hundred day moving average is $94.55. Five Below, Inc. has a 52-week low of $64.87 and a 52-week high of $216.18. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.09 and a beta of 1.19.

Five Below (NASDAQ:FIVE) last announced its earnings results on Wednesday, December 4th. The specialty retailer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.26. Five Below had a return on equity of 18.16% and a net margin of 7.57%. The company had revenue of $843.71 million for the quarter, compared to analyst estimates of $801.48 million. During the same period in the prior year, the company posted $0.26 EPS. Five Below’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities analysts expect that Five Below, Inc. will post 4.56 earnings per share for the current fiscal year.

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.