Fred’s, Inc. (NASDAQ:FRED) shares were down 5.1% on Tuesday . The company traded as low as $5.73 and last traded at $5.76. Approximately 1,340,944 shares traded hands during trading, a decline of 15% from the average daily volume of 1,581,160 shares. The stock had previously closed at $6.07.

A number of brokerages recently issued reports on FRED. Deutsche Bank AG restated a “hold” rating and set a $17.00 target price (down previously 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. Zacks Investment Research upgraded shares of Fred’s from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Loop Capital began coverage on shares of Fred’s in a research report on Thursday, August 24th. They set a “hold” rating and a $6.00 target price on the stock. Finally, TheStreet lowered shares of Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.50.

The company’s market cap is $219.17 million. The firm’s 50-day moving average price is $6.38 and its 200 day moving average price is $11.59.

Fred’s (NASDAQ:FRED) last announced its quarterly earnings data on Tuesday, June 6th. The company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.03. Fred’s had a negative net margin of 4.94% and a negative return on equity of 3.93%. The company had revenue of $532.32 million for the quarter, compared to analysts’ expectations of $520.28 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’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 ($0.43) earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, August 30th. Fred’s’s payout ratio is presently -8.54%.

A number of institutional investors and hedge funds have recently made changes to their positions in FRED. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Fred’s during the second quarter valued at approximately $11,058,000. State Street Corp grew its position in Fred’s by 32.8% during the first quarter. State Street Corp now owns 1,126,791 shares of the company’s stock valued at $14,761,000 after purchasing an additional 278,250 shares in the last quarter. Highbridge Capital Management LLC grew its position in Fred’s by 485.6% during the first quarter. Highbridge Capital Management LLC now owns 292,781 shares of the company’s stock valued at $3,836,000 after purchasing an additional 242,781 shares in the last quarter. Vanguard Group Inc. grew its position in Fred’s by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,254,230 shares of the company’s stock valued at $42,630,000 after purchasing an additional 170,717 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Fred’s by 24.2% during the first quarter. Wells Fargo & Company MN now owns 776,513 shares of the company’s stock valued at $10,172,000 after purchasing an additional 151,144 shares in the last quarter.

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Fred’s Company Profile

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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