Sei Investments Co. Continues to Hold Position in Fred’s, Inc. (FRED)
Sei Investments Co. continued to hold its stake in shares of Fred’s, Inc. (NASDAQ:FRED) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,674 shares of the company’s stock at the end of the first quarter. Sei Investments Co.’s holdings in Fred’s were worth $926,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of FRED. Howard Hughes Medical Institute bought a new stake in shares of Fred’s during the first quarter worth about $142,000. Louisiana State Employees Retirement System increased its stake in shares of Fred’s by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $187,000 after buying an additional 200 shares during the period. IFP Advisors Inc increased its stake in shares of Fred’s by 279.2% in the first quarter. IFP Advisors Inc now owns 24,501 shares of the company’s stock worth $321,000 after buying an additional 18,039 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Fred’s by 6.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,050 shares of the company’s stock worth $354,000 after buying an additional 1,220 shares during the period. Finally, Horrell Capital Management Inc. increased its stake in shares of Fred’s by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the company’s stock worth $357,000 after buying an additional 100 shares during the period.
Shares of Fred’s, Inc. (NASDAQ:FRED) opened at 10.74 on Friday. The firm has a 50 day moving average price of $13.54 and a 200-day moving average price of $14.66. Fred’s, Inc. has a 52 week low of $7.89 and a 52 week high of $21.77. The firm’s market capitalization is $408.67 million.
Fred’s (NASDAQ:FRED) last announced its quarterly 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. The firm had revenue of $532.32 million for the quarter, compared to analyst estimates of $520.28 million. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. Equities research analysts predict that Fred’s, Inc. will post $0.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.24 annualized dividend and a yield of 2.23%. Fred’s’s dividend payout ratio is presently -8.54%.
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FRED has been the subject of a number of recent research reports. Zacks Investment Research downgraded Fred’s from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $17.00 target price (down from $19.00) on shares of Fred’s in a research note on Saturday, June 3rd. Finally, ValuEngine downgraded Fred’s from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.80.
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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