Fred’s, Inc. (FRED) Position Raised by State of Wisconsin Investment Board
State of Wisconsin Investment Board increased its holdings in Fred’s, Inc. (NASDAQ:FRED) by 181.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 546,700 shares of the company’s stock after buying an additional 352,600 shares during the period. State of Wisconsin Investment Board owned 1.44% of Fred’s worth $3,521,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FRED. Howard Hughes Medical Institute raised its position in Fred’s by 23.7% during the second quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock valued at $124,000 after purchasing an additional 2,574 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Fred’s by 6.3% during the second quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock valued at $125,000 after purchasing an additional 804 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Fred’s by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock valued at $135,000 after purchasing an additional 300 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Fred’s during the first quarter valued at about $136,000. Finally, Verition Fund Management LLC purchased a new stake in Fred’s during the second quarter valued at about $157,000.
Fred’s, Inc. (FRED) opened at $4.84 on Wednesday. Fred’s, Inc. has a 12 month low of $4.21 and a 12 month high of $21.77. 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 announced its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The firm had revenue of $507.80 million for the quarter, compared to analysts’ expectations of $504.90 million. During the same period last year, the firm earned ($0.18) earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. analysts predict that Fred’s, Inc. will post -0.39 earnings per share for the current year.
A number of equities research analysts have weighed in on FRED shares. Zacks Investment Research upgraded Fred’s from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Loop Capital started coverage on Fred’s in a research report on Thursday, August 24th. They set a “hold” rating and a $6.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $13.50.
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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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