Fred’s Inc. (FRED) to Release Quarterly Earnings on Friday
Fred’s Inc. (NASDAQ:FRED) is set to release its earnings data before the market opens on Friday, December 2nd.
Shares of Fred’s Inc. (NASDAQ:FRED) opened at 9.89 on Wednesday. Fred’s Inc. has a 12-month low of $7.89 and a 12-month high of $16.75. The firm has a 50-day moving average price of $9.04 and a 200 day moving average price of $12.37. The stock’s market cap is $369.37 million.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.43%. The ex-dividend date is Tuesday, November 29th. Fred’s’s dividend payout ratio is currently -109.09%.
Several equities research analysts have weighed in on FRED shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $15.00 price target on shares of Fred’s in a research report on Tuesday, August 2nd. Zacks Investment Research raised shares of Fred’s from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Stephens lowered shares of Fred’s from an “equal weight” rating to an “underperform” rating and set a $9.00 target price on the stock. in a research note on Wednesday, August 31st. TheStreet lowered shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. Finally, MKM Partners reissued a “neutral” rating and set a $10.00 target price (down from $13.00) on shares of Fred’s in a research note on Monday, September 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $11.60.
In related news, Director Michael Hayes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the director now directly owns 1,579,566 shares of the company’s stock, valued at approximately $17,438,408.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position in shares of Fred’s by 9.0% in the third quarter. BlackRock Fund Advisors now owns 2,577,971 shares of the company’s stock worth $23,356,000 after buying an additional 212,733 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Fred’s by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,866,562 shares of the company’s stock worth $46,181,000 after buying an additional 136,177 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Fred’s during the third quarter worth $245,000. The Manufacturers Life Insurance Company bought a new position in shares of Fred’s during the third quarter worth $228,000. Finally, Two Sigma Advisers LP bought a new position in shares of Fred’s during the third quarter worth $147,000. 95.58% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Fred's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fred's Inc. and related stocks with our FREE daily email newsletter.