M&T Bank Corp Trims Position in Five Below, Inc. (NASDAQ:FIVE)

M&T Bank Corp cut its holdings in shares of Five Below, Inc. (NASDAQ:FIVE) by 19.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,568 shares of the specialty retailer’s stock after selling 1,365 shares during the quarter. M&T Bank Corp’s holdings in Five Below were worth $417,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FIVE. Steadfast Capital Management LP purchased a new position in Five Below during the 4th quarter worth approximately $123,601,000. Marshall Wace LLP raised its position in Five Below by 86.0% during the 4th quarter. Marshall Wace LLP now owns 2,320,212 shares of the specialty retailer’s stock worth $243,529,000 after buying an additional 1,072,642 shares during the last quarter. Norges Bank purchased a new position in Five Below during the 4th quarter worth approximately $66,933,000. Alliancebernstein L.P. raised its position in Five Below by 487.0% during the 4th quarter. Alliancebernstein L.P. now owns 566,695 shares of the specialty retailer’s stock worth $59,480,000 after buying an additional 470,150 shares during the last quarter. Finally, Man Group plc raised its position in Five Below by 399.5% during the 4th quarter. Man Group plc now owns 562,902 shares of the specialty retailer’s stock worth $59,082,000 after buying an additional 450,215 shares during the last quarter.

Five Below Stock Up 3.3%

Shares of FIVE opened at $136.44 on Thursday. Five Below, Inc. has a 52-week low of $52.38 and a 52-week high of $137.30. The firm’s fifty day moving average is $120.33 and its two-hundred day moving average is $95.86. The stock has a market cap of $7.51 billion, a PE ratio of 28.60 and a beta of 1.04.

Five Below (NASDAQ:FIVE) last announced its earnings results on Wednesday, June 4th. The specialty retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $970.53 million for the quarter, compared to analysts’ expectations of $966.29 million. Five Below had a net margin of 6.52% and a return on equity of 17.00%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, research analysts anticipate that Five Below, Inc. will post 4.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FIVE has been the subject of a number of recent research reports. Wells Fargo & Company raised their price target on shares of Five Below from $115.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, June 5th. Loop Capital lifted their target price on shares of Five Below from $90.00 to $130.00 and gave the company a “hold” rating in a report on Friday, June 6th. JPMorgan Chase & Co. lifted their target price on shares of Five Below from $57.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Five Below from a “sell” rating to a “hold” rating in a report on Monday, March 24th. Finally, Evercore ISI lifted their target price on shares of Five Below from $115.00 to $120.00 and gave the company an “in-line” rating in a report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.30.

Insider Activity

In other news, insider Amit Jhunjhunwala sold 1,700 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $125.17, for a total transaction of $212,789.00. Following the transaction, the insider owned 25,890 shares of the company’s stock, valued at approximately $3,240,651.30. The trade was a 6.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider George Hill sold 4,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $132.93, for a total transaction of $598,185.00. Following the transaction, the insider directly owned 44,130 shares in the company, valued at approximately $5,866,200.90. The trade was a 9.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,700 shares of company stock valued at $1,530,209. 1.90% of the stock is currently owned by insiders.

About Five Below

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.