Shares of Fred’s Inc. (NASDAQ:FRED) dropped 2.2% on Friday . The stock traded as low as $12.77 and last traded at $12.83, with a volume of 50,498 shares. The stock had previously closed at $13.12.

FRED has been the topic of several research reports. Zacks Investment Research upgraded Fred’s from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Wednesday, July 20th. Deutsche Bank AG restated a “hold” rating and set a $15.00 price target on shares of Fred’s in a report on Tuesday, August 2nd. 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.

The company’s market cap is $473.94 million. The company’s 50 day moving average is $14.83 and its 200 day moving average is $14.72.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.24 annualized dividend and a yield of 1.89%.

In other Fred’s 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 value of $147,100.00. Following the completion of the transaction, the director now owns 1,591,066 shares in the company, valued at approximately $23,404,580.86. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

A hedge fund recently raised its stake in Fred’s stock. Dimensional Fund Advisors LP raised its stake in shares of Fred’s Inc. (NASDAQ:FRED) by 1.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,093,951 shares of the company’s stock after buying an additional 54,483 shares during the period. Dimensional Fund Advisors LP owned 8.28% of Fred’s worth $50,648,000 at the end of the most recent 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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