Fred’s Inc. (FRED) SVP Mark C. Dely Sells 1,189 Shares

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Fred’s Inc. (NASDAQ:FRED) SVP Mark C. Dely sold 1,189 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $10.04, for a total transaction of $11,937.56. Following the transaction, the senior vice president now directly owns 4,328 shares of the company’s stock, valued at approximately $43,453.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Fred’s Inc. (NASDAQ:FRED) opened at 9.89 on Wednesday. The company’s market cap is $369.37 million. Fred’s Inc. has a 12-month low of $9.75 and a 12-month high of $17.14. The stock’s 50 day moving average is $13.93 and its 200 day moving average is $14.72.
Fred’s (NASDAQ:FRED) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. Fred’s had a negative net margin of 0.37% and a positive return on equity of 0.13%. The company earned $529.50 million during the quarter, compared to the consensus estimate of $546.23 million. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. The firm’s revenue was down 3.0% compared to the same quarter last year. On average, equities analysts forecast that Fred’s Inc. will post ($0.35) earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, August 31st. Fred’s’s dividend payout ratio is -109.09%.
FRED has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Fred’s from a “strong sell” rating to a “hold” rating in a research report on Friday, May 27th. Deutsche Bank AG boosted their target price on shares of Fred’s from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Tuesday, May 31st. MKM Partners reissued a “hold” rating on shares of Fred’s in a research report on Tuesday, May 31st. Finally, Sidoti initiated coverage on shares of Fred’s in a research report on Wednesday, July 6th. They set a “neutral” rating and a $17.00 target price for the company. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Fred’s has a consensus rating of “Sell” and an average price target of $12.80.
Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its position in Fred’s by 5.4% in the first quarter. Wellington Management Group LLP now owns 4,560,455 shares of the company’s stock worth $67,996,000 after buying an additional 233,539 shares during the period. NWQ Investment Management Company LLC increased its position in Fred’s by 10.0% in the first quarter. NWQ Investment Management Company LLC now owns 3,280,610 shares of the company’s stock worth $48,914,000 after buying an additional 298,019 shares during the period. Vanguard Group Inc. increased its position in 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 during the period. BlackRock Fund Advisors increased its position in Fred’s by 1.7% in the second quarter. BlackRock Fund Advisors now owns 2,365,238 shares of the company’s stock worth $38,104,000 after buying an additional 38,478 shares during the period. Finally, State Street Corp increased its position in Fred’s by 0.8% in the first quarter. State Street Corp now owns 858,608 shares of the company’s stock worth $12,798,000 after buying an additional 7,109 shares during the period. 95.23% of the stock is owned by institutional investors.
Fred’s Company Profile
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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