Fred’s Inc. (NASDAQ:FRED) declared a quarterly dividend on Monday, November 21st. Shareholders of record on Thursday, December 1st will be paid a dividend of 0.06 per share on Thursday, December 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.56%.

Fred’s (NASDAQ:FRED) opened at 9.39 on Tuesday. The firm has a 50 day moving average of $9.07 and a 200-day moving average of $12.50. Fred’s has a one year low of $7.89 and a one year high of $17.14. The firm’s market cap is $350.70 million.

Fred’s (NASDAQ:FRED) last released its earnings results on Tuesday, August 30th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate 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 business earned $529.50 million during the quarter, compared to analyst estimates of $546.23 million. During the same period in the prior year, the business earned ($0.13) earnings per share. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities research analysts forecast that Fred’s will post ($0.42) EPS for the current fiscal year.

Dividend History for Fred`s (NASDAQ:FRED)

FRED has been the subject of several recent research reports. Deutsche Bank AG raised shares of Fred’s from a “sell” rating to a “hold” rating and set a $10.00 target price for the company in a research note on Monday, October 3rd. Stephens lowered shares of Fred’s from an “equal weight” rating to an “underperform” rating and set a $9.00 target price for the company. in a research note on Wednesday, August 31st. TheStreet lowered shares of Fred’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Zacks Investment Research upgraded shares of Fred’s from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 1st. Finally, Sidoti upgraded shares of Fred’s from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Friday, October 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.60.

In other Fred’s news, Director Michael Hayes sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $10.75, for a total value of $107,500.00. Following the transaction, the director now owns 1,574,047 shares in the company, valued at approximately $16,921,005.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new position in Fred’s during the third quarter valued at $103,000. Two Sigma Advisers LP bought a new position in Fred’s during the third quarter valued at $147,000. BlackRock Inc. raised its position in 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 position in Fred’s during the second quarter valued at $164,000. Finally, Trexquant Investment LP bought a new position in Fred’s during the second quarter valued at $168,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

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.

5 Day Chart for NASDAQ:FRED

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