Fred’s, Inc. (FRED) Holdings Increased by Vanguard Group Inc.
Vanguard Group Inc. grew its holdings in shares of Fred’s, Inc. (NASDAQ:FRED) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,284,949 shares of the company’s stock after buying an additional 30,719 shares during the period. Vanguard Group Inc. owned 8.63% of Fred’s worth $30,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Hughes Medical Institute lifted its holdings in Fred’s by 23.7% during the 2nd quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock worth $124,000 after buying an additional 2,574 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Fred’s by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $135,000 after buying an additional 300 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Fred’s during the 1st quarter worth about $136,000. Arizona State Retirement System lifted its holdings in Fred’s by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 18,675 shares of the company’s stock worth $172,000 after buying an additional 300 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Fred’s by 8.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 21,470 shares of the company’s stock worth $198,000 after buying an additional 1,640 shares during the last quarter.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Fred’s from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Loop Capital started 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $13.50.
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Shares of Fred’s, Inc. (NASDAQ FRED) opened at $4.80 on Friday. 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 current ratio of 1.90, a quick ratio of 0.45 and a debt-to-equity ratio of 0.51.
Fred’s (NASDAQ:FRED) last posted its earnings results on Wednesday, September 6th. The company reported ($0.15) earnings per share for the quarter, beating 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 business had revenue of $507.80 million during the quarter, compared to the consensus estimate of $504.90 million. During the same period in the previous year, the business earned ($0.18) EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. equities analysts predict that Fred’s, Inc. will post -0.39 EPS for the current fiscal year.
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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