New York State Teachers Retirement System Decreases Position in Five Below Inc (FIVE)
New York State Teachers Retirement System reduced its stake in Five Below Inc (NASDAQ:FIVE) by 55.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,700 shares of the specialty retailer’s stock after selling 17,117 shares during the period. New York State Teachers Retirement System’s holdings in Five Below were worth $1,339,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC grew its holdings in Five Below by 6,021.0% in the first quarter. Summit Trail Advisors LLC now owns 114,769 shares of the specialty retailer’s stock worth $115,000 after purchasing an additional 112,894 shares during the period. Oakbrook Investments LLC purchased a new stake in Five Below in the second quarter worth about $215,000. Zeke Capital Advisors LLC purchased a new stake in Five Below in the first quarter worth about $219,000. Pitcairn Co. purchased a new stake in Five Below in the first quarter worth about $224,000. Finally, We Are One Seven LLC grew its holdings in Five Below by 173.7% in the first quarter. We Are One Seven LLC now owns 3,128 shares of the specialty retailer’s stock worth $229,000 after purchasing an additional 1,985 shares during the period.
In related news, CFO Kenneth R. Bull sold 19,204 shares of the firm’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $99.00, for a total value of $1,901,196.00. Following the sale, the chief financial officer now owns 72,990 shares in the company, valued at $7,226,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Romanko sold 6,673 shares of the firm’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $98.78, for a total transaction of $659,158.94. Following the completion of the sale, the executive vice president now owns 14,784 shares in the company, valued at approximately $1,460,363.52. The disclosure for this sale can be found here. Insiders sold 141,806 shares of company stock worth $14,531,056 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.
Five Below (NASDAQ:FIVE) last issued its earnings results on Wednesday, June 6th. The specialty retailer reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Five Below had a net margin of 8.64% and a return on equity of 26.59%. The company had revenue of $296.32 million for the quarter, compared to analysts’ expectations of $291.14 million. During the same quarter last year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. analysts expect that Five Below Inc will post 2.46 EPS for the current fiscal year.
A number of equities research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Five Below from $75.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, June 7th. BidaskClub upgraded shares of Five Below from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. Morgan Stanley upgraded shares of Five Below from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 10th. Loop Capital increased their price target on shares of Five Below to $100.00 and gave the company a “hold” rating in a report on Tuesday, July 17th. Finally, Credit Suisse Group cut shares of Five Below from an “outperform” rating to a “neutral” rating and set a $96.00 price target on the stock. in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $96.00.
Five Below Company Profile
Five Below, Inc operates as a specialty value retailer in the United States. It offers accessories, including novelty socks, sunglasses, jewelry, scarves, gloves, hair accessories, athletic tops and bottoms, and T-shirts, as well as beauty products comprising nail polish, lip gloss, fragrance, and branded cosmetics; and items used to complete and personalize living space, including glitter lamps, posters, frames, fleece blankets, plush items, pillows, candles, incense, lighting, novelty décor, and related items, as well as provides storage options for the customers room.
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