Fred’s, Inc. (FRED) Stake Lifted by Arizona State Retirement System
Arizona State Retirement System grew its holdings in Fred’s, Inc. (NASDAQ:FRED) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,675 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Arizona State Retirement System’s holdings in Fred’s were worth $172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Mason Street Advisors LLC increased its position in Fred’s by 7.2% in the 1st 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 in the last quarter. Paloma Partners Management Co bought a new stake in Fred’s in the 1st quarter valued at about $136,000. BlueCrest Capital Management Ltd bought a new stake in Fred’s in the 1st quarter valued at about $160,000. Louisiana State Employees Retirement System increased its position in Fred’s by 1.4% in the 1st 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 in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in Fred’s by 4.1% in the 1st quarter. Thrivent Financial For Lutherans now owns 19,830 shares of the company’s stock valued at $260,000 after buying an additional 780 shares in the last quarter.
A number of analysts recently commented on the company. ValuEngine lowered Fred’s from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $17.00 target price (down from $19.00) on shares of Fred’s in a research report on Saturday, June 3rd. Zacks Investment Research lowered Fred’s from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. TheStreet lowered Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Finally, Loop Capital assumed coverage on Fred’s in a research report on Thursday, August 24th. They issued a “hold” rating and a $6.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Fred’s has a consensus rating of “Hold” and an average price target of $13.50.
Shares of Fred’s, Inc. (FRED) opened at 7.06 on Thursday. The company’s market capitalization is $268.82 million. Fred’s, Inc. has a 12 month low of $5.62 and a 12 month high of $21.77. The company has a 50-day moving average price of $6.38 and a 200-day moving average price of $11.15.
Fred’s (NASDAQ:FRED) last issued its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative net margin of 6.08% and a negative return on equity of 4.02%. The business had revenue of $507.80 million during the quarter, compared to analyst estimates of $504.90 million. During the same period last year, the business posted ($0.18) earnings per share. Fred’s’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Fred’s, Inc. will post ($0.38) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.06 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.24 annualized dividend and a yield of 3.40%. Fred’s’s dividend payout ratio (DPR) is presently -7.04%.
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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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