Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Fred’s from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Wednesday, July 20th. Deutsche Bank AG reaffirmed a hold rating and set a $15.00 price objective on shares of Fred’s in a report on Tuesday, August 2nd. MKM Partners reaffirmed a neutral rating and set a $10.00 price objective (down from $13.00) on shares of Fred’s in a report on Monday, September 5th. Finally, TheStreet lowered shares of Fred’s from a hold rating to a sell rating in a report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $12.80.
Fred’s (NASDAQ:FRED) traded down 0.6249% during midday trading on Friday, reaching $9.5102. 155,715 shares of the company were exchanged. The firm’s market capitalization is $355.19 million. Fred’s has a 52 week low of $8.98 and a 52 week high of $17.14. The company has a 50-day moving average of $10.69 and a 200 day moving average of $13.83.
Fred’s (NASDAQ:FRED) last released its earnings results on Tuesday, August 30th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Fred’s had a negative net margin of 0.37% and a positive return on equity of 0.13%. The company had revenue of $529.50 million for the quarter, compared to analysts’ expectations of $546.23 million. During the same quarter last year, the business earned ($0.13) EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. Equities analysts predict that Fred’s will post ($0.35) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, September 2nd were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Wednesday, August 31st. Fred’s’s dividend payout ratio (DPR) is presently -109.09%.
In related news, Director Michael Hayes sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the transaction, the director now directly owns 1,579,566 shares of the company’s stock, valued at $17,438,408.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC acquired a new position in Fred’s during the second quarter worth $110,000. BlackRock Inc. raised its position in Fred’s by 198.6% in the second quarter. BlackRock Inc. now owns 9,267 shares of the company’s stock worth $150,000 after buying an additional 6,163 shares during the period. Hsbc Holdings PLC acquired a new position in Fred’s during the second quarter worth $164,000. Trexquant Investment LP acquired a new position in Fred’s during the second quarter worth $168,000. Finally, BNP Paribas Arbitrage SA raised its position in Fred’s by 111.2% in the second quarter. BNP Paribas Arbitrage SA now owns 10,897 shares of the company’s stock worth $176,000 after buying an additional 5,737 shares during the period. 95.09% of the stock is owned by hedge funds and other institutional investors.
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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