Vanguard Group Inc. boosted its position in Fred’s, Inc. (NASDAQ:FRED) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,254,230 shares of the company’s stock after buying an additional 170,717 shares during the period. Vanguard Group Inc. owned 0.09% of Fred’s worth $42,630,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased 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 worth $187,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in Fred’s by 1.7% in the first quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock worth $241,000 after buying an additional 300 shares in the last quarter. Mason Street Advisors LLC increased 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 worth $108,000 after buying an additional 553 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in Fred’s by 4.1% in the first quarter. Thrivent Financial For Lutherans now owns 19,830 shares of the company’s stock worth $260,000 after buying an additional 780 shares in the last quarter. Finally, Comerica Bank increased its stake in Fred’s by 4.5% in the first quarter. Comerica Bank now owns 38,964 shares of the company’s stock worth $579,000 after buying an additional 1,685 shares in the last quarter.

Shares of Fred’s, Inc. (NASDAQ FRED) traded up 0.16% during trading on Friday, hitting $6.36. The stock had a trading volume of 506,754 shares. The firm’s market capitalization is $242.00 million. The stock’s 50-day moving average price is $7.39 and its 200 day moving average price is $12.62. Fred’s, Inc. has a 1-year low of $6.17 and a 1-year high of $21.77.

Fred’s (NASDAQ:FRED) last issued its quarterly earnings results on Tuesday, June 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ 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 quarter in the previous year, the company posted $0.03 EPS. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts anticipate that Fred’s, Inc. will post ($0.41) earnings per share for the current year.

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Several brokerages have recently weighed in on FRED. TheStreet cut Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Deutsche Bank AG reduced their price target on Fred’s from $16.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, June 29th. Finally, ValuEngine cut Fred’s from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. 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’s stock. Fred’s currently has a consensus rating of “Hold” and a consensus price target of $14.25.

About Fred’s

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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Institutional Ownership by Quarter for Fred`s (NASDAQ:FRED)

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