Fred's, Inc. (FRED) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of Fred's, Inc. (NASDAQ:FRED) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,416 shares of the company’s stock after acquiring an additional 405 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Fred's worth $263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wisconsin Investment Board increased its position in shares of Fred's by 129.7% during the second quarter. State of Wisconsin Investment Board now owns 194,100 shares of the company’s stock valued at $1,792,000 after acquiring an additional 109,600 shares during the last quarter. Teachers Advisors LLC grew its holdings in Fred's by 12.5% during the second quarter. Teachers Advisors LLC now owns 183,835 shares of the company’s stock valued at $1,697,000 after purchasing an additional 20,455 shares during the period. Texas Permanent School Fund grew its holdings in Fred's by 2.5% during the second quarter. Texas Permanent School Fund now owns 26,114 shares of the company’s stock valued at $241,000 after purchasing an additional 648 shares during the period. Vanguard Group Inc. grew its holdings in Fred's by 0.9% during the second quarter. Vanguard Group Inc. now owns 3,284,949 shares of the company’s stock valued at $30,321,000 after purchasing an additional 30,719 shares during the period. Finally, State Street Corp grew its holdings in Fred's by 12.8% during the second quarter. State Street Corp now owns 1,271,228 shares of the company’s stock valued at $11,732,000 after purchasing an additional 144,437 shares during the period.

Fred's, Inc. (NASDAQ:FRED) opened at $4.14 on Thursday. Fred's, Inc. has a twelve month low of $3.80 and a twelve month high of $21.77. The company has a quick ratio of 0.45, a current ratio of 1.90 and a debt-to-equity ratio of 0.51.

Fred's (NASDAQ:FRED) last announced its quarterly earnings data on Wednesday, December 6th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.29). Fred's had a negative net margin of 6.08% and a negative return on equity of 4.02%. The firm had revenue of $493.60 million for the quarter, compared to the consensus estimate of $499.77 million. During the same period last year, the company posted ($0.27) earnings per share. Fred's’s revenue for the quarter was down 4.5% on a year-over-year basis. analysts predict that Fred's, Inc. will post -0.39 earnings per share for the current fiscal year.

Fred's declared that its board has approved a share buyback program on Wednesday, December 6th that authorizes the company to repurchase 3,800,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

FRED has been the subject of several research reports. Zacks Investment Research raised Fred's from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Loop Capital initiated coverage on Fred's in a report on Thursday, August 24th. They set a “hold” rating and a $6.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Fred's has a consensus rating of “Hold” and an average price target of $13.50.

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

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