Shares of Fred’s Inc. (NASDAQ:FRED) traded down 4.9% during trading on Tuesday . The stock traded as low as $14.96 and last traded at $15.01, with a volume of 52,025 shares changing hands. The stock had previously closed at $15.78.

Several analysts recently commented on the company. Zacks Investment Research upgraded Fred’s from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, July 20th. Deutsche Bank AG upped their target price on Fred’s from $14.00 to $15.00 and gave the company a “hold” rating in a report on Tuesday, May 31st. MKM Partners restated a “hold” rating on shares of Fred’s in a report on Tuesday, May 31st. Finally, Sidoti initiated coverage on Fred’s in a report on Wednesday, July 6th. They set a “neutral” rating and a $17.00 price target on the stock. Five analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $16.20.

The stock has a 50-day moving average price of $15.62 and a 200-day moving average price of $14.85. The firm’s market cap is $550.76 million.

Fred’s (NASDAQ:FRED) last announced its quarterly earnings data on Thursday, May 26th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The firm had revenue of $549.55 million for the quarter, compared to analysts’ expectations of $553.90 million. Fred’s’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts anticipate that Fred’s Inc. will post $0.28 earnings per share for the current fiscal year.

In related news, Director Michael Hayes sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $14.71, for a total transaction of $147,100.00. Following the transaction, the director now directly owns 1,591,066 shares of the company’s stock, valued at approximately $23,404,580.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of Fred’s by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 68,905 shares of the company’s stock worth $1,128,000 after buying an additional 1,244 shares in the last quarter. Sei Investments Co. boosted its position in shares of Fred’s by 11.5% in the fourth quarter. Sei Investments Co. now owns 99,530 shares of the company’s stock worth $1,629,000 after buying an additional 10,270 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Fred’s by 12.3% in the fourth quarter. California Public Employees Retirement System now owns 237,393 shares of the company’s stock worth $3,886,000 after buying an additional 26,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Fred’s by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,093,951 shares of the company’s stock worth $50,648,000 after buying an additional 54,483 shares in the last quarter.

Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.

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