Teachers Retirement System of The State of Kentucky Has $232,000 Stake in Fred’s, Inc. (FRED)
Teachers Retirement System of The State of Kentucky continued to hold its position in shares of Fred’s, Inc. (NASDAQ:FRED) during the first quarter, Holdings Channel reports. The institutional investor owned 17,700 shares of the company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Fred’s were worth $232,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mason Street Advisors LLC raised its stake in Fred’s by 7.2% in the first quarter. Mason Street Advisors LLC now owns 8,225 shares of the company’s stock valued at $108,000 after buying an additional 553 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Fred’s during the first quarter valued at about $136,000. Howard Hughes Medical Institute acquired a new stake in Fred’s during the first quarter valued at about $142,000. BlueCrest Capital Management Ltd acquired a new stake in Fred’s during the first quarter valued at about $160,000. Finally, Louisiana State Employees Retirement System raised its stake in Fred’s by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock valued at $187,000 after buying an additional 200 shares during the last quarter.
Fred’s, Inc. (NASDAQ:FRED) traded up 0.16% during mid-day trading on Friday, hitting $6.36. 506,754 shares of the stock were exchanged. The company’s 50-day moving average price is $7.39 and its 200 day moving average price is $12.62. Fred’s, Inc. has a 52 week low of $6.17 and a 52 week high of $21.77. The firm’s market capitalization is $242.00 million.
Fred’s (NASDAQ:FRED) last announced its quarterly earnings results on Tuesday, June 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.03. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The business had revenue of $532.32 million during the quarter, compared to analysts’ expectations of $520.28 million. During the same period in the previous year, the company posted $0.03 EPS. Fred’s’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts expect that Fred’s, Inc. will post ($0.41) EPS for the current year.
FRED has been the subject of several analyst reports. Deutsche Bank AG restated a “hold” rating and set a $17.00 price target (down from $19.00) on shares of Fred’s in a research report on Saturday, June 3rd. ValuEngine lowered shares of Fred’s from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, TheStreet lowered shares of Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Fred’s has an average rating of “Hold” and a consensus target price of $14.25.
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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