Fred’s Inc. (NASDAQ:FRED) fell 3.3% during trading on Monday . The stock traded as low as $13.01 and last traded at $13.82, with a volume of 155,110 shares trading hands. The stock had previously closed at $14.29.

Several research firms have commented on FRED. Deutsche Bank AG restated a “hold” rating on shares of Fred’s in a research note on Sunday, July 10th. MKM Partners reiterated a “hold” rating on shares of Fred’s in a research note on Tuesday, May 31st. Zacks Investment Research cut Fred’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 8th. Finally, Sidoti began coverage on Fred’s in a research note on Wednesday, July 6th. They set a “neutral” rating and a $17.00 price objective on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.60.

The company’s market cap is $523.16 million. The stock has a 50 day moving average price of $15.58 and a 200 day moving average price of $14.84.

Fred’s (NASDAQ:FRED) last released its earnings results on Thursday, May 26th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The business had revenue of $549.55 million for the quarter, compared to analyst estimates of $553.90 million. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Fred’s Inc. will post $0.21 earnings per share for the current year.

In related news, Director Michael Hayes sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $15.20, for a total transaction of $76,000.00. Following the completion of the sale, the director now owns 1,586,066 shares of the company’s stock, valued at $24,108,203.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

An institutional investor recently raised its position in Fred’s stock. California Public Employees Retirement System raised its stake in Fred’s Inc. (NASDAQ:FRED) by 12.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 237,393 shares of the company’s stock after buying an additional 26,000 shares during the period. California Public Employees Retirement System owned 0.64% of Fred’s worth $3,886,000 as of its most recent SEC filing.

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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