Legal & General Group Plc boosted its position in shares of Fred’s, Inc. (NASDAQ:FRED) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,306 shares of the company’s stock after buying an additional 86 shares during the period. Legal & General Group Plc owned about 0.16% of Fred’s worth $777,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Wells Fargo & Company MN raised its stake in shares of Fred’s by 24.2% in the first quarter. Wells Fargo & Company MN now owns 776,513 shares of the company’s stock worth $10,172,000 after buying an additional 151,144 shares during the period. Teachers Advisors LLC raised its stake in shares of Fred’s by 195.1% in the first quarter. Teachers Advisors LLC now owns 163,380 shares of the company’s stock worth $2,140,000 after buying an additional 108,011 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Fred’s by 96.8% in the first quarter. TIAA CREF Investment Management LLC now owns 196,019 shares of the company’s stock worth $2,568,000 after buying an additional 96,417 shares during the period. Norges Bank purchased a new stake in shares of Fred’s during the fourth quarter worth approximately $1,648,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Fred’s during the first quarter worth approximately $1,107,000.
Shares of Fred’s, Inc. (NASDAQ:FRED) opened at 6.04 on Friday. Fred’s, Inc. has a 12-month low of $5.62 and a 12-month high of $21.77. The company’s 50-day moving average price is $6.65 and its 200 day moving average price is $12.32. The company’s market cap is $229.83 million.
Fred’s (NASDAQ:FRED) last posted its earnings results on Tuesday, June 6th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The firm had revenue of $532.32 million for the quarter, compared to the consensus estimate of $520.28 million. During the same period in the prior year, the business earned $0.03 EPS. Fred’s’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts predict that Fred’s, Inc. will post ($0.41) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.97%. Fred’s’s dividend payout ratio is currently -8.54%.
Several analysts recently issued reports on the company. Deutsche Bank AG reiterated a “hold” rating and set a $17.00 target price (down previously from $19.00) on shares of Fred’s in a report on Saturday, June 3rd. TheStreet lowered Fred’s from a “c-” rating to a “d” rating in a report on Monday, July 3rd. Finally, ValuEngine lowered Fred’s from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Fred’s has an average rating of “Hold” and an average price target of $14.25.
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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