Raymond James & Associates cut its holdings in shares of Stitch Fix Inc (NASDAQ:SFIX) by 59.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,045 shares of the company’s stock after selling 17,400 shares during the quarter. Raymond James & Associates’ holdings in Stitch Fix were worth $206,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. AdvisorNet Financial Inc bought a new stake in Stitch Fix during the 4th quarter worth about $29,000. Capital Investment Advisory Services LLC bought a new stake in Stitch Fix during the 4th quarter worth about $62,000. Hsbc Holdings PLC bought a new stake in Stitch Fix during the 3rd quarter worth about $202,000. B. Riley Wealth Management Inc. bought a new stake in Stitch Fix during the 3rd quarter worth about $310,000. Finally, Creative Planning bought a new stake in Stitch Fix during the 4th quarter worth about $190,000. 28.29% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on SFIX. Zacks Investment Research raised shares of Stitch Fix from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, March 14th. Piper Jaffray Companies boosted their price target on shares of Stitch Fix from $20.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Stifel Nicolaus boosted their price target on shares of Stitch Fix from $28.00 to $34.00 in a research report on Wednesday, March 13th. Barclays upped their target price on shares of Stitch Fix to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, March 13th. Finally, KeyCorp upped their target price on shares of Stitch Fix from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, March 12th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $37.00.
Shares of SFIX stock opened at $26.34 on Wednesday. The stock has a market capitalization of $2.63 billion, a PE ratio of 67.54, a PEG ratio of 5.35 and a beta of 3.33. Stitch Fix Inc has a 52-week low of $16.05 and a 52-week high of $52.44.
Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Monday, March 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.07. The company had revenue of $370.28 million for the quarter, compared to analysts’ expectations of $365.28 million. Stitch Fix had a net margin of 3.67% and a return on equity of 15.47%. On average, analysts predict that Stitch Fix Inc will post 0.22 earnings per share for the current year.
In other Stitch Fix news, CEO Katrina Lake sold 100,000 shares of the stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $21.93, for a total value of $2,193,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Steven M. Spurlock sold 510,588 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $32.05, for a total transaction of $16,364,345.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,182,102 shares of company stock worth $35,274,740. 56.97% of the stock is owned by insiders.
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Stitch Fix Profile
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.
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