Bank of Nova Scotia Takes Position in Five Below, Inc. $FIVE

Bank of Nova Scotia purchased a new position in Five Below, Inc. (NASDAQ:FIVE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 165,443 shares of the specialty retailer’s stock, valued at approximately $25,594,000. Bank of Nova Scotia owned about 0.30% of Five Below as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Five Below in the 2nd quarter valued at approximately $110,834,000. Jennison Associates LLC lifted its position in Five Below by 397.5% during the third quarter. Jennison Associates LLC now owns 819,502 shares of the specialty retailer’s stock valued at $126,777,000 after purchasing an additional 654,763 shares during the period. Wellington Management Group LLP boosted its holdings in Five Below by 149.0% in the third quarter. Wellington Management Group LLP now owns 848,105 shares of the specialty retailer’s stock worth $131,202,000 after purchasing an additional 507,487 shares during the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Five Below by 1,770.7% in the second quarter. Hudson Bay Capital Management LP now owns 471,506 shares of the specialty retailer’s stock worth $61,852,000 after acquiring an additional 446,301 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Five Below by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 1,540,501 shares of the specialty retailer’s stock valued at $202,083,000 after purchasing an additional 365,426 shares during the period.

Five Below Trading Up 0.6%

Shares of Five Below stock opened at $211.67 on Tuesday. The firm has a market cap of $11.68 billion, a P/E ratio of 38.00, a P/E/G ratio of 1.61 and a beta of 1.10. Five Below, Inc. has a 12 month low of $52.38 and a 12 month high of $229.33. The stock’s fifty day moving average price is $205.92 and its 200-day moving average price is $176.68.

Insider Activity at Five Below

In other news, COO Kenneth R. Bull sold 1,925 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $202.29, for a total transaction of $389,408.25. Following the transaction, the chief operating officer directly owned 99,115 shares in the company, valued at approximately $20,049,973.35. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Eric M. Specter sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $201.15, for a total transaction of $1,709,775.00. Following the completion of the transaction, the chief accounting officer directly owned 45,724 shares of the company’s stock, valued at $9,197,382.60. This trade represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,525 shares of company stock valued at $3,135,554 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

FIVE has been the topic of several analyst reports. Truist Financial set a $236.00 price target on shares of Five Below in a research note on Wednesday, January 14th. Citigroup upped their price target on Five Below from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, December 4th. Jefferies Financial Group lifted their price objective on Five Below from $185.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Craig Hallum restated a “buy” rating on shares of Five Below in a research report on Friday, January 16th. Finally, Loop Capital reissued a “buy” rating and issued a $200.00 target price on shares of Five Below in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Five Below presently has an average rating of “Moderate Buy” and a consensus price target of $205.75.

Five Below Profile

Five Below, Inc (NASDAQ:FIVE) is an American specialty discount retailer offering a broad assortment of merchandise priced primarily at $5 or below. Since its founding in 2002 by David Schlessinger and Tom Vellios, the company has pursued a value-focused retail model targeting tweens, teens and beyond, with stores designed to deliver trend-driven products at an accessible price point. Headquartered in Philadelphia, Pennsylvania, Five Below has grown into a national chain operating in dozens of U.S.