Vanguard Group Inc. Raises Stake in Stitch Fix, Inc. (NASDAQ:SFIX)

Vanguard Group Inc. increased its stake in Stitch Fix, Inc. (NASDAQ:SFIX) by 4.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,856,137 shares of the company’s stock after buying an additional 231,975 shares during the period. Vanguard Group Inc.’s holdings in Stitch Fix were worth $20,204,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings in Stitch Fix by 64.0% during the third quarter. Public Employees Retirement System of Ohio now owns 6,515 shares of the company’s stock valued at $26,000 after purchasing an additional 2,543 shares during the last quarter. Creative Planning purchased a new stake in shares of Stitch Fix in the fourth quarter worth about $32,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Stitch Fix in the fourth quarter worth about $32,000. Principal Financial Group Inc. bought a new position in shares of Stitch Fix in the third quarter worth approximately $38,000. Finally, 1900 Wealth Management LLC bought a new position in shares of Stitch Fix in the third quarter worth approximately $42,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Stock Down 4.1 %

NASDAQ:SFIX opened at $2.31 on Monday. Stitch Fix, Inc. has a twelve month low of $2.15 and a twelve month high of $5.20. The stock has a market cap of $277.59 million, a P/E ratio of -2.24 and a beta of 1.90. The firm’s fifty day simple moving average is $2.85 and its 200 day simple moving average is $3.25.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Monday, March 4th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. The firm had revenue of $330.40 million for the quarter, compared to analysts’ expectations of $331.73 million. On average, analysts expect that Stitch Fix, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SFIX. Wells Fargo & Company reduced their price target on shares of Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 5th. UBS Group began coverage on shares of Stitch Fix in a research report on Monday, April 8th. They set a “neutral” rating and a $2.80 price target on the stock. Wedbush reduced their price target on shares of Stitch Fix from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Truist Financial dropped their price objective on Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, March 5th. Finally, Sanford C. Bernstein dropped their price objective on Stitch Fix from $4.00 to $3.40 and set a “market perform” rating for the company in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.16.

Insider Activity

In other news, CAO Sarah Barkema sold 16,311 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total transaction of $36,536.64. Following the sale, the chief accounting officer now owns 138,535 shares in the company, valued at approximately $310,318.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 25.90% of the company’s stock.

Stitch Fix Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.