Fred’s Inc. (NASDAQ:FRED) shares reached a new 52-week low on Tuesday . The stock traded as low as $10.98 and last traded at $11.90, with a volume of 210,468 shares. The stock had previously closed at $12.56.

Several research firms have recently weighed in on FRED. Deutsche Bank AG reiterated 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 downgraded Fred’s from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 8th. Sidoti began coverage on Fred’s in a research note on Wednesday, July 6th. They set a “neutral” rating and a $17.00 price target for the company. Finally, TheStreet downgraded Fred’s from a “hold” rating to a “sell” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $14.75.

The stock has a 50 day moving average price of $14.46 and a 200 day moving average price of $14.70. The company’s market cap is $421.74 million.

Fred’s (NASDAQ:FRED) last announced its quarterly earnings data on Tuesday, August 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.03. During the same quarter in the previous year, the firm posted ($0.13) EPS. The company had revenue of $529.50 million for the quarter, compared to analysts’ expectations of $546.23 million. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities analysts expect that Fred’s Inc. will post ($0.03) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, August 31st.

In other Fred’s news, Director Michael Hayes sold 5,000 shares of Fred’s stock in a transaction 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 transaction, the director now owns 1,586,066 shares in the company, valued at $24,108,203.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A hedge fund recently raised its stake in Fred’s stock. Dimensional Fund Advisors LP increased its position in shares of Fred’s Inc. (NASDAQ:FRED) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 about 8.28% of Fred’s worth $50,648,000 at the end of the most recent reporting period.

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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