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

Several analysts have recently weighed in on FRED shares. Deutsche Bank AG reiterated a “hold” rating and set a $17.00 target price (down from $19.00) on shares of Fred’s in a research report on Saturday, June 3rd. TheStreet downgraded Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. ValuEngine downgraded Fred’s from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Fred’s from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Loop Capital started coverage on Fred’s in a research report on Thursday, August 24th. They set a “hold” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.50.

The company’s 50-day moving average is $6.36 and its 200 day moving average is $11.46. The stock’s market cap is $256.46 million.

Fred’s (NASDAQ:FRED) last posted its earnings results on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The firm had revenue of $507.80 million for the quarter, compared to analyst estimates of $504.90 million. During the same quarter in the prior year, the company earned ($0.18) EPS. Fred’s’s revenue was down 4.1% on a year-over-year basis. Equities research analysts forecast that Fred’s, Inc. will post ($0.44) EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.56%. The ex-dividend date is Wednesday, August 30th. Fred’s’s payout ratio is -8.54%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wisconsin Investment Board lifted its stake in Fred’s by 129.7% during the 2nd quarter. State of Wisconsin Investment Board now owns 194,100 shares of the company’s stock worth $1,792,000 after acquiring an additional 109,600 shares in the last quarter. State of Tennessee Treasury Department lifted its stake in Fred’s by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 32,687 shares of the company’s stock worth $428,000 after acquiring an additional 4,933 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Fred’s by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 267,355 shares of the company’s stock worth $3,502,000 after acquiring an additional 9,888 shares in the last quarter. Harvest Management LLC acquired a new position in Fred’s during the 1st quarter worth about $590,000. Finally, Paloma Partners Management Co acquired a new position in Fred’s during the 1st quarter worth about $136,000.

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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.