Wellington Management Group LLP reduced its stake in shares of Fred’s, Inc. (NASDAQ:FRED) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,378,082 shares of the company’s stock after selling 122,950 shares during the period. Wellington Management Group LLP owned about 11.53% of Fred’s worth $57,353,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FRED. Great West Life Assurance Co. Can raised its position in shares of Fred’s by 5.4% in the first quarter. Great West Life Assurance Co. Can now owns 47,266 shares of the company’s stock worth $619,000 after buying an additional 2,417 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Fred’s by 24.2% in the first quarter. Wells Fargo & Company MN now owns 776,513 shares of the company’s stock worth $10,172,000 after buying an additional 151,144 shares during the last quarter. IFP Advisors Inc raised its position in shares of Fred’s by 279.2% in the first quarter. IFP Advisors Inc now owns 24,501 shares of the company’s stock worth $321,000 after buying an additional 18,039 shares during the last quarter. Howard Hughes Medical Institute bought a new position in shares of Fred’s during the first quarter worth $142,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Fred’s by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the company’s stock worth $187,000 after buying an additional 200 shares during the last quarter.

Institutional Ownership by Quarter for Fred`s (NASDAQ:FRED)

Fred’s, Inc. (NASDAQ FRED) traded down 1.47% during trading on Friday, hitting $10.74. 1,071,704 shares of the stock were exchanged. Fred’s, Inc. has a 52 week low of $7.89 and a 52 week high of $21.77. The firm’s market cap is $408.67 million. The firm’s 50-day moving average is $13.54 and its 200 day moving average is $14.66.

Fred’s (NASDAQ:FRED) last issued its quarterly earnings data on Tuesday, June 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.03. The business had revenue of $532.32 million for the quarter, compared to analyst estimates of $520.28 million. Fred’s had a negative net margin of 4.94% and a negative return on equity of 3.93%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. Analysts expect that Fred’s, Inc. will post $0.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, May 30th. Fred’s’s dividend payout ratio is currently -8.54%.

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A number of equities analysts recently weighed in on FRED shares. Zacks Investment Research lowered shares of Fred’s from a “buy” rating to a “hold” rating in a research note on Tuesday, February 21st. Deutsche Bank AG reaffirmed a “hold” rating and issued a $17.00 target price (down from $19.00) on shares of Fred’s in a research note on Saturday, June 3rd. Finally, ValuEngine lowered shares of Fred’s from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Fred’s currently has an average rating of “Hold” and an average price target of $16.80.

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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