Five Below (NASDAQ:FIVE) Updates Q1 2024 Earnings Guidance

Five Below (NASDAQ:FIVE) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.580-0.690 for the period, compared to the consensus earnings per share estimate of 0.760. The company issued revenue guidance of $826.0 million-$846.0 million, compared to the consensus revenue estimate of $852.0 million. Five Below also updated its FY 2024 guidance to 5.710-6.220 EPS.

Five Below Stock Performance

Shares of NASDAQ FIVE traded up $2.31 during midday trading on Wednesday, reaching $208.97. The company’s stock had a trading volume of 1,265,919 shares, compared to its average volume of 678,991. The company has a market cap of $11.53 billion, a P/E ratio of 42.69, a P/E/G ratio of 1.54 and a beta of 1.21. Five Below has a fifty-two week low of $144.57 and a fifty-two week high of $220.19. The business’s 50 day moving average price is $192.99 and its two-hundred day moving average price is $184.39.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI upgraded Five Below from an in-line rating to an outperform rating and raised their price target for the stock from $215.00 to $245.00 in a research report on Thursday, January 4th. Morgan Stanley upped their target price on Five Below from $210.00 to $225.00 and gave the stock an overweight rating in a research note on Thursday, November 30th. Mizuho started coverage on Five Below in a research note on Tuesday. They issued a buy rating and a $225.00 price target on the stock. Citigroup lifted their target price on Five Below from $220.00 to $227.00 and gave the company a buy rating in a research report on Thursday, November 30th. Finally, Oppenheimer downgraded shares of Five Below from an outperform rating to a market perform rating and reduced their price target for the company from $235.00 to $200.00 in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $220.18.

Insider Buying and Selling at Five Below

In related news, Director Thomas Vellios sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $185.82, for a total transaction of $1,858,200.00. Following the transaction, the director now directly owns 333,697 shares of the company’s stock, valued at approximately $62,007,576.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Five Below

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Five Below by 1.0% during the first quarter. BlackRock Inc. now owns 4,879,733 shares of the specialty retailer’s stock worth $1,005,079,000 after acquiring an additional 46,515 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Five Below by 2,513.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,892,692 shares of the specialty retailer’s stock valued at $801,779,000 after acquiring an additional 3,743,768 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Five Below by 10.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,730,378 shares of the specialty retailer’s stock worth $482,922,000 after acquiring an additional 259,012 shares during the period. Wasatch Advisors Inc. raised its stake in shares of Five Below by 21.4% during the 1st quarter. Wasatch Advisors Inc. now owns 2,676,533 shares of the specialty retailer’s stock valued at $423,883,000 after purchasing an additional 471,349 shares during the period. Finally, State Street Corp lifted its holdings in Five Below by 0.6% during the 2nd quarter. State Street Corp now owns 1,536,918 shares of the specialty retailer’s stock worth $302,066,000 after purchasing an additional 8,498 shares in the last quarter.

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 glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, accent furniture, and related items, as well as provides storage options.