Fred’s, Inc. (NASDAQ:FRED) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC raised its stake in shares of Fred’s, Inc. (NASDAQ:FRED) by 0.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,052 shares of the company’s stock after buying an additional 51 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.37% of Fred’s worth $1,822,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in FRED. Guggenheim Capital LLC increased its position in Fred’s by 192.4% in the fourth quarter. Guggenheim Capital LLC now owns 273,049 shares of the company’s stock valued at $5,068,000 after buying an additional 179,665 shares during the last quarter. Wells Fargo & Company MN increased its stake in Fred’s by 24.2% in the first quarter. Wells Fargo & Company MN now owns 776,513 shares of the company’s stock valued at $10,172,000 after buying an additional 151,144 shares in the last quarter. Norges Bank bought a new stake in Fred’s during the fourth quarter valued at about $1,648,000. Highbridge Capital Management LLC bought a new stake in Fred’s during the fourth quarter valued at about $928,000. Finally, State Street Corp increased its stake in Fred’s by 4.1% in the fourth quarter. State Street Corp now owns 848,541 shares of the company’s stock valued at $15,746,000 after buying an additional 33,755 shares in the last quarter.
Shares of Fred’s, Inc. (NASDAQ:FRED) traded down 0.61% on Tuesday, hitting $6.53. The stock had a trading volume of 960,905 shares. The company has a 50 day moving average price of $7.91 and a 200-day moving average price of $12.95. Fred’s, Inc. has a 12 month low of $6.17 and a 12 month high of $21.77. The stock’s market cap is $248.47 million.
Fred’s (NASDAQ:FRED) last posted its earnings results on Tuesday, June 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.03. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The business had revenue of $532.32 million during the quarter, compared to the consensus estimate of $520.28 million. During the same quarter last year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Fred’s, Inc. will post ($0.41) earnings per share for the current year.
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Several equities research analysts have issued reports on the company. ValuEngine downgraded Fred’s from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Deutsche Bank AG restated a “hold” rating and set a $17.00 target price (down previously from $19.00) on shares of Fred’s in a research report on Saturday, June 3rd. Finally, TheStreet downgraded Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Fred’s presently has a consensus rating of “Hold” and an average target price of $14.25.
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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