Fred’s Inc. (NASDAQ:FRED)‘s stock had its “hold” rating reissued by research analysts at Deutsche Bank AG in a research report issued on Friday. They presently have a $23.00 price objective on the stock, up from their prior price objective of $8.00. Deutsche Bank AG’s price target would indicate a potential upside of 13.86% from the company’s current price.
A number of other equities analysts have also recently weighed in on the stock. Sidoti cut shares of Fred’s from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a research note on Tuesday, December 20th. Zacks Investment Research cut shares of Fred’s from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 31st. TheStreet cut shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Tuesday, August 30th. MKM Partners reissued a “neutral” rating and issued a $10.00 price objective (down from $13.00) on shares of Fred’s in a research note on Monday, September 5th. Finally, Stephens cut shares of Fred’s from an “equal weight” rating to an “underperform” rating and set a $9.00 price objective on the stock. in a research note on Wednesday, August 31st. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Fred’s currently has a consensus rating of “Hold” and an average price target of $16.80.
Fred’s (NASDAQ:FRED) opened at 20.20 on Friday. Fred’s has a 52 week low of $7.89 and a 52 week high of $21.77. The firm’s 50-day moving average is $11.07 and its 200-day moving average is $12.22. The stock’s market capitalization is $755.86 million.
Fred’s (NASDAQ:FRED) last posted its quarterly earnings results on Thursday, December 8th. The company reported ($0.27) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.10. Fred’s had a negative return on equity of 0.94% and a negative net margin of 2.23%. The company had revenue of $516.60 million for the quarter, compared to analyst estimates of $514.27 million. During the same period last year, the company earned $0.10 earnings per share. On average, equities research analysts predict that Fred’s will post ($0.51) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, November 29th. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. Fred’s’s payout ratio is -18.32%.
In other Fred’s news, Director Michael Hayes sold 3,243 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $19.29, for a total transaction of $62,557.47. Following the sale, the director now directly owns 1,535,510 shares of the company’s stock, valued at approximately $29,619,987.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ricky Chambers sold 3,631 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $19.89, for a total transaction of $72,220.59. Following the sale, the executive vice president now directly owns 715 shares in the company, valued at $14,221.35. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in FRED. Verition Fund Management LLC purchased a new stake in Fred’s during the third quarter valued at about $103,000. Mason Street Advisors LLC purchased a new stake in Fred’s during the second quarter valued at about $110,000. Two Sigma Advisers LP purchased a new stake in Fred’s during the third quarter valued at about $147,000. BlackRock Inc. boosted its stake 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. Finally, Hsbc Holdings PLC purchased a new stake in Fred’s during the second quarter valued at about $164,000. 95.56% of the stock is currently owned by 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.