Today’s 13GD Filing: Heartland Advisors Inc Just Opened Huge Freds Inc Position

Today's 13GD Filing: Heartland Advisors Inc Just Opened Huge Freds Inc Position

The New Heartland Advisors Inc Holding in Freds Inc

Heartland Advisors Inc filed with the SEC SC 13G/A form for Freds Inc. The form can be accessed here: 000089271216001927. As reported in Heartland Advisors Inc’s form, the filler as of late owns 4.2% or 1,570,881 shares of the Consumer Discretionary–company.

Freds Inc stake is a new one for the for this institutional investor and it was filed because of activity on September 30, 2016. We feel this shows Heartland Advisors Inc’s positive view for the stock. For a institutional investor managing $6.06 billion in assets and having 51+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Freds Inc Institutional Sentiment

Latest Security and Exchange filings show 105 investors own Freds Inc. The institutional ownership in Q3 2015 is high, at 113.05% of the outstanding shares. This is increased by 7979355 the total institutional shares. 42222613 were the shares owned by these institutional investors. In total 9 funds opened new Freds Inc stakes, 47 increased stakes. There were 18 that closed positions and 31 reduced them.

Nwq Investment Management Company Llc is an institutional investor bullish on Freds Inc, owning 2830837 shares as of Q3 2015 for 0.52% of its portfolio. National Rural Electric Cooperative Association owns 2231569 shares or 0.51% of its portfolio. TN Reliant Investment Management Llc have 0.20% of their stock portfolio for 17207 shares. Further, Horrell Capital Management Inc reported stake worth 0.20% of its US stock portfolio. The WI Heartland Advisors Inc owns 3868577 shares. Freds Inc is 1.68% of the manager’s US portfolio.

Business 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. The Company is licensed to dispense pharmaceuticals in approximately 50 states. The Company operates approximately 640 company-owned stores, including over 60 express stores (or Xpress stores). Fred’s is a combination of pharmacy, dollar store and mass merchant strategically located in smaller markets. It offers various product categories, including consumables, such as tobacco, food and beverage, prescription pharmaceuticals, paper and cleaning supplies, pet supplies, health and beauty aids, and discretionary products, such as home decor, seasonal merchandise, auto and hardware, and lawn and garden.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Heartland Advisors Inc website.

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 1.06, from 2.06 in 2016Q1. The ratio turned negative, as 9 funds sold all Fred’s, Inc. shares owned while 37 reduced positions. 12 funds bought stakes while 34 increased positions. They now own 33.17 million shares or 0.45% less from 33.32 million shares in 2016Q1.

Vanguard Gru Inc, a Pennsylvania-based fund reported 2.87M shares. Citadel Limited Liability, a Illinois-based fund reported 11,179 shares. United Svcs Automobile Association has 0.03% invested in the company for 570,620 shares. Moreover, Teachers Advsr has 0% invested in Fred’s, Inc. (NASDAQ:FRED) for 55,369 shares. Voya Investment Mngmt Ltd Liability Corp last reported 0% of its portfolio in the stock. Comerica Bank & Trust, a Michigan-based fund reported 35,000 shares. Sector Pension Inv Board accumulated 24,088 shares or 0% of the stock. Acadian Asset Mgmt Limited Liability Com last reported 5,961 shares in the company. The Pennsylvania-based Nationwide Fund has invested 0% in Fred’s, Inc. (NASDAQ:FRED). The Pennsylvania-based Sei Co has invested 0.01% in Fred’s, Inc. (NASDAQ:FRED). Creative Planning accumulated 0% or 500 shares. Barrow Hanley Mewhinney & Strauss Limited Com accumulated 69,272 shares or 0% of the stock. Swiss National Bank last reported 60,600 shares in the company. Walleye Trading Ltd Company holds 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED) for 3,600 shares. Texas Permanent School Fund accumulated 0.01% or 26,771 shares.

Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 12 insider sales for $986,658 net activity. On Tuesday, September 6 HAYES MICHAEL sold $107,505 worth of the stock or 10,000 shares. 1,189 Fred’s, Inc. (NASDAQ:FRED) shares with value of $11,938 were sold by Dely Mark C. Chambers Ricky had sold 6,990 shares worth $102,683. 1,517 shares were sold by Holligan Mike, worth $22,254 on Tuesday, May 31.

About 82,462 shares traded hands. Fred’s, Inc. (NASDAQ:FRED) has declined 32.72% since March 2, 2016 and is downtrending. It has underperformed by 40.98% the S&P500.

Fred’s, Inc. is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The company has a market cap of $356.45 million. The Firm sells general merchandise to its over 20 franchisees. It currently has negative earnings. The Firm 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.

Fred’s, Inc. (NASDAQ:FRED) Ratings Coverage

Out of 3 analysts covering Fred’s (NASDAQ:FRED), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. $16 is the highest target while $10 is the lowest. The $13 average target is 30.39% above today’s ($9.97) stock price. Fred’s has been the topic of 9 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Stephens downgraded the stock to “Overweight” rating in Friday, August 7 report. The stock has “Equal Weight” rating given by Stephens on Monday, August 10. The stock of Fred’s, Inc. (NASDAQ:FRED) earned “Hold” rating by Deutsche Bank on Monday, October 3. The rating was maintained by M Partners on Wednesday, November 25 with “Neutral”. The firm has “Sell” rating by Deutsche Bank given on Wednesday, August 31. Stephens downgraded Fred’s, Inc. (NASDAQ:FRED) on Wednesday, August 31 to “Underperform” rating. On Tuesday, May 31 the stock rating was maintained by Deutsche Bank with “Hold”. The rating was maintained by M Partners with “Neutral” on Monday, August 31.

More important recent Fred’s, Inc. (NASDAQ:FRED) news were published by: Prnewswire.com which released: “Eiris Health Services, fred’s Inc. Pharmacy-Owned Specialty Pharmacy, is Now …” on October 03, 2016, also Schaeffersresearch.com published article titled: “Analyst Update: Heron Therapeutics Inc, Fred’s, Inc., and Cognizant Technology …”, Zacks.com published: “Should You Get Rid of Fred’s, Inc. (FRED) Now?” on September 28, 2016. More interesting news about Fred’s, Inc. (NASDAQ:FRED) was released by: Investorplace.com and their article: “Bear of the Day: Fred’s Inc. Slides on Its Outlook (FRED)” with publication date: September 08, 2016.

According to Zacks Investment Research, “Fred’s, Inc. operates discount general merchandise stores in a number states in the southeastern United States. Fred’s stores generally serve low, middle and fixed income families located in small to medium sized towns. The majority of the company’s stores have full service pharmacies. The company also markets goods and services to franchised Fred’s stores.”

FRED Company Profile

Fred’s, Inc. (Fred’s), incorporated on June 22, 1960, is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Firm sells general merchandise to its over 20 franchisees. The Firm 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. The Firm is licensed to dispense pharmaceuticals in approximately 50 states. The Firm operates approximately 640 company-owned stores, including over 60 express stores (or Xpress stores). Fred’s is a combination of pharmacy, dollar store and mass merchant strategically located in smaller markets. The Firm offers various product categories, including consumables, such as tobacco, food and beverage, prescription pharmaceuticals, paper and cleaning supplies, pet supplies, health and beauty aids, and discretionary products, such as home decor, seasonal merchandise, auto and hardware, and lawn and garden.

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