Fred’s, Inc. (FRED) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. trimmed its holdings in shares of Fred’s, Inc. (NASDAQ:FRED) by 27.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,364 shares of the company’s stock after selling 72,890 shares during the period. Ameriprise Financial Inc. owned approximately 0.51% of Fred’s worth $1,794,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Fred’s by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,254,230 shares of the company’s stock worth $42,630,000 after buying an additional 170,717 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Fred’s during the 2nd quarter worth approximately $11,058,000. State Street Corp boosted its holdings in shares of Fred’s by 32.8% during the 1st quarter. State Street Corp now owns 1,126,791 shares of the company’s stock worth $14,761,000 after buying an additional 278,250 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fred’s by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 550,478 shares of the company’s stock worth $5,081,000 after buying an additional 22,736 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Fred’s by 9.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 535,168 shares of the company’s stock worth $4,940,000 after buying an additional 44,795 shares in the last quarter.
Fred’s, Inc. (NASDAQ:FRED) opened at $4.28 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.45 and a current ratio of 1.90.
Fred’s (NASDAQ:FRED) last posted its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. The business had revenue of $507.80 million during the quarter, compared to the consensus estimate of $504.90 million. Fred’s had a negative net margin of 6.08% and a negative return on equity of 4.02%. Fred’s’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. equities analysts predict that Fred’s, Inc. will post -0.41 EPS for the current fiscal year.
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A number of equities analysts have issued reports on the company. Zacks Investment Research cut Fred’s from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. Loop Capital assumed coverage on Fred’s in a report on Thursday, August 24th. They set a “hold” rating and a $6.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Fred’s has a consensus rating of “Hold” and a consensus target price of $13.50.
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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