Fred’s (NASDAQ:FRED) dropped 0.6% during trading on Wednesday . The stock traded as low as $1.51 and last traded at $1.54. Approximately 8,130 shares changed hands during trading, a decline of 100% from the average daily volume of 1,716,515 shares. The stock had previously closed at $1.55.

FRED has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Fred’s from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. ValuEngine upgraded shares of Fred’s from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 4th. Finally, Loop Capital set a $4.00 price target on shares of Fred’s and gave the stock a “hold” rating in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

The company has a current ratio of 1.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.92.

Fred’s (NASDAQ:FRED) last announced its quarterly earnings results on Friday, May 4th. The company reported ($0.62) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.43). The company had revenue of $477.29 million for the quarter. Fred’s had a negative return on equity of 19.11% and a negative net margin of 7.47%. During the same quarter in the prior year, the company earned ($0.11) EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OppenheimerFunds Inc. increased its stake in Fred’s by 5.8% in the first quarter. OppenheimerFunds Inc. now owns 1,811,645 shares of the company’s stock valued at $5,417,000 after purchasing an additional 99,333 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Fred’s by 42.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,121,498 shares of the company’s stock valued at $3,354,000 after purchasing an additional 332,999 shares during the period. Millennium Management LLC acquired a new position in Fred’s in the fourth quarter valued at $108,000. Goldman Sachs Group Inc. increased its stake in Fred’s by 349.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 138,370 shares of the company’s stock valued at $560,000 after purchasing an additional 193,745 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new position in Fred’s in the fourth quarter valued at $115,000. Institutional investors own 98.99% of the company’s stock.

Fred’s Company Profile

Fred's, Inc, together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers household cleaning supplies, health products, beauty and personal care products, disposable diapers, pet foods, paper products, various food and beverage products, and pharmaceuticals to low, middle, and fixed income families in small- to medium- sized towns.

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