Shares of Fred’s Inc. (NASDAQ:FRED) have been given an average rating of “Hold” by the six ratings firms that are currently covering the stock. Three investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.25.
A number of research firms have weighed in on FRED. MKM Partners reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Fred’s in a research note on Thursday, July 7th. Sidoti began coverage on shares of Fred’s in a research report on Wednesday, July 6th. They set a “neutral” rating and a $17.00 price target on the stock. Zacks Investment Research lowered shares of Fred’s from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st. Deutsche Bank AG reissued a “hold” rating and set a $15.00 price target on shares of Fred’s in a research report on Tuesday, August 2nd. Finally, Stephens lowered shares of Fred’s from an “equal weight” rating to an “underperform” rating and set a $9.00 price target on the stock. in a research report on Wednesday, August 31st.
Shares of Fred’s (NASDAQ:FRED) traded down 1.12% on Friday, hitting $8.83. 118,380 shares of the company’s stock were exchanged. The firm’s market cap is $329.78 million. The stock’s 50 day moving average is $10.21 and its 200 day moving average is $13.69. Fred’s has a 12 month low of $8.82 and a 12 month high of $17.14.
Fred’s (NASDAQ:FRED) last released its quarterly earnings data on Tuesday, August 30th. The company reported ($0.18) earnings per share for the quarter, beating 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 firm had revenue of $529.50 million for the quarter, compared to analyst estimates of $546.23 million. During the same period last year, the firm earned ($0.13) earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts predict that Fred’s will post ($0.35) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, August 31st. Fred’s’s dividend payout ratio is -109.09%.
In other Fred’s news, Director Michael Hayes sold 9,369 shares of Fred’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $10.17, for a total value of $95,282.73. Following the sale, the director now owns 1,538,152 shares of the company’s stock, valued at $15,643,005.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Mason Street Advisors LLC bought a new stake in shares of Fred’s during the second quarter valued at approximately $110,000. BlackRock Inc. raised its stake in shares of Fred’s by 198.6% in the second quarter. BlackRock Inc. now owns 9,267 shares of the company’s stock valued at $150,000 after buying an additional 6,163 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Fred’s during the second quarter valued at approximately $164,000. Trexquant Investment LP bought a new stake in shares of Fred’s during the second quarter valued at approximately $168,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Fred’s by 111.2% in the second quarter. BNP Paribas Arbitrage SA now owns 10,897 shares of the company’s stock valued at $176,000 after buying an additional 5,737 shares in the last quarter. 95.09% of the stock is currently owned by institutional investors and hedge funds.