Concentric Capital Strategies LP Takes Position in Five Below, Inc. (NASDAQ:FIVE)

Concentric Capital Strategies LP bought a new position in shares of Five Below, Inc. (NASDAQ:FIVE) in the third quarter, Holdings Channel reports. The institutional investor bought 27,102 shares of the specialty retailer’s stock, valued at approximately $2,394,000.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Five Below by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,375 shares of the specialty retailer’s stock worth $150,000 after buying an additional 147 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Five Below by 9.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,122 shares of the specialty retailer’s stock worth $231,000 after acquiring an additional 180 shares during the last quarter. Peloton Wealth Strategists increased its position in shares of Five Below by 3.0% during the second quarter. Peloton Wealth Strategists now owns 6,820 shares of the specialty retailer’s stock worth $743,000 after purchasing an additional 200 shares in the last quarter. Partnership Wealth Management LLC raised its stake in Five Below by 63.5% in the 3rd quarter. Partnership Wealth Management LLC now owns 515 shares of the specialty retailer’s stock valued at $46,000 after purchasing an additional 200 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Five Below by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 15,464 shares of the specialty retailer’s stock valued at $1,685,000 after purchasing an additional 296 shares during the last quarter.

Five Below Price Performance

Shares of FIVE stock opened at $99.20 on Tuesday. Five Below, Inc. has a 1-year low of $64.87 and a 1-year high of $216.18. The firm has a market cap of $5.46 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. The company has a 50-day moving average of $90.45 and a two-hundred day moving average of $95.09.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. William Blair reaffirmed a “market perform” rating on shares of Five Below in a report on Monday. Craig Hallum upped their price objective on shares of Five Below from $102.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Five Below from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $89.00 to $95.00 in a research note on Thursday, September 19th. Truist Financial boosted their target price on Five Below from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group cut 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. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $106.60.

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.