California State Teachers Retirement System cut its holdings in shares of Fred’s, Inc. (NASDAQ:FRED) by 8.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,692 shares of the company’s stock after selling 5,900 shares during the period. California State Teachers Retirement System owned 0.17% of Fred’s worth $588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Teachers Advisors LLC lifted its holdings in shares of Fred’s by 195.1% during the first quarter. Teachers Advisors LLC now owns 163,380 shares of the company’s stock worth $2,140,000 after purchasing an additional 108,011 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Fred’s by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,254,230 shares of the company’s stock worth $42,630,000 after purchasing an additional 170,717 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Fred’s by 3.4% during the first quarter. Geode Capital Management LLC now owns 279,569 shares of the company’s stock worth $3,662,000 after purchasing an additional 9,209 shares during the period. Bank of America Corp DE lifted its holdings in shares of Fred’s by 29.7% during the first quarter. Bank of America Corp DE now owns 158,150 shares of the company’s stock worth $2,072,000 after purchasing an additional 36,178 shares during the period. Finally, State Street Corp lifted its holdings in shares of Fred’s by 32.8% during the first quarter. State Street Corp now owns 1,126,791 shares of the company’s stock worth $14,761,000 after purchasing an additional 278,250 shares during the period.

Shares of Fred’s, Inc. (FRED) opened at $5.21 on Tuesday. Fred’s, Inc. has a fifty-two week low of $4.21 and a fifty-two week high of $21.77. The company has a quick ratio of 0.45, a current ratio of 1.90 and a debt-to-equity ratio of 0.51.

Fred’s (NASDAQ:FRED) last released its earnings results on Wednesday, September 6th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The company had revenue of $507.80 million during the quarter, compared to the consensus estimate of $504.90 million. During the same quarter last year, the company earned ($0.18) earnings per share. Fred’s’s quarterly revenue was down 4.1% compared to the same quarter last year. sell-side analysts anticipate that Fred’s, Inc. will post -0.39 EPS for the current fiscal year.

Several brokerages recently weighed in on FRED. Zacks Investment Research downgraded Fred’s from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Loop Capital began coverage on Fred’s in a report on Thursday, August 24th. They set a “hold” rating and a $6.00 price target for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $13.50.

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

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