Fred’s, Inc. (FRED) Sets New 12-Month Low at $5.28

Shares of Fred’s, Inc. (NASDAQ:FRED) hit a new 52-week low on Thursday . The stock traded as low as $5.28 and last traded at $5.28, with a volume of 943,875 shares traded. The stock had previously closed at $5.70.

FRED has been the subject of several recent analyst reports. Deutsche Bank AG dropped their price objective on Fred’s from $16.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, June 29th. TheStreet downgraded Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Loop Capital initiated coverage on Fred’s in a research report on Thursday, August 24th. They set a “hold” rating and a $6.00 price objective for the company. Finally, Zacks Investment Research upgraded Fred’s from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.50.

The stock’s market capitalization is $200.67 million. The company’s 50-day moving average is $6.51 and its 200-day moving average is $9.83.

Fred’s (NASDAQ:FRED) last issued its quarterly earnings results on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $507.80 million during the quarter, compared to analyst estimates of $504.90 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Fred’s, Inc. will post ($0.38) EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 4.21%. The ex-dividend date was Wednesday, August 30th. Fred’s’s dividend payout ratio (DPR) is currently -7.04%.

A number of hedge funds have recently modified their holdings of FRED. Mason Street Advisors LLC lifted its stake in Fred’s by 7.2% during the first quarter. Mason Street Advisors LLC now owns 8,225 shares of the company’s stock worth $108,000 after purchasing an additional 553 shares during the last quarter. Howard Hughes Medical Institute lifted its stake in shares of Fred’s by 23.7% in the 2nd quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock valued at $124,000 after acquiring an additional 2,574 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Fred’s by 6.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock valued at $125,000 after acquiring an additional 804 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Fred’s by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock valued at $135,000 after acquiring an additional 300 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Fred’s in the 1st quarter valued at about $136,000.

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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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