Federated Hermes Inc. Sells 18,945 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Federated Hermes Inc. trimmed its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,394 shares of the company’s stock after selling 18,945 shares during the period. Federated Hermes Inc.’s holdings in Stitch Fix were worth $287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SFIX. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Stitch Fix by 50.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,146 shares of the company’s stock valued at $61,000 after acquiring an additional 5,718 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Stitch Fix in the 4th quarter worth $70,000. New York State Teachers Retirement System purchased a new position in shares of Stitch Fix in the fourth quarter valued at about $27,000. Raymond James & Associates bought a new stake in shares of Stitch Fix in the fourth quarter worth about $91,000. Finally, SG Americas Securities LLC grew its position in shares of Stitch Fix by 32.5% in the 4th quarter. SG Americas Securities LLC now owns 35,548 shares of the company’s stock worth $127,000 after buying an additional 8,711 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SFIX. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research report on Tuesday, March 5th. Sanford C. Bernstein decreased their target price on shares of Stitch Fix from $4.00 to $3.40 and set a “market perform” rating for the company in a report on Tuesday, March 5th. Canaccord Genuity Group reduced their price target on shares of Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, March 5th. Mizuho initiated coverage on Stitch Fix in a research report on Tuesday, March 19th. They issued an “underperform” rating and a $2.00 price objective on the stock. Finally, Wedbush dropped their price objective on Stitch Fix from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.16.

Stitch Fix Trading Up 4.6 %

SFIX opened at $2.29 on Friday. Stitch Fix, Inc. has a 1-year low of $2.06 and a 1-year high of $5.20. The firm’s 50 day simple moving average is $2.45 and its two-hundred day simple moving average is $3.14. The company has a market capitalization of $275.19 million, a PE ratio of -2.22 and a beta of 1.94.

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

Insider Activity

In other Stitch Fix news, CAO Sarah Barkema sold 16,311 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total value of $36,536.64. Following the completion of the transaction, the chief accounting officer now directly owns 138,535 shares in the company, valued at $310,318.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 25.90% of the company’s stock.

Stitch Fix Company 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.