Bank of Montreal Can grew its holdings in Stitch Fix Inc (NASDAQ:SFIX) by 74.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 117,245 shares of the company’s stock after purchasing an additional 50,050 shares during the quarter. Bank of Montreal Can owned 0.12% of Stitch Fix worth $5,132,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. purchased a new position in Stitch Fix in the second quarter worth approximately $203,000. California Public Employees Retirement System purchased a new position in Stitch Fix in the second quarter worth approximately $228,000. Millennium Management LLC purchased a new position in Stitch Fix in the first quarter worth approximately $296,000. Bank of New York Mellon Corp purchased a new position in Stitch Fix in the second quarter worth approximately $367,000. Finally, Northern Trust Corp purchased a new position in Stitch Fix in the first quarter worth approximately $389,000. 21.38% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on SFIX shares. Zacks Investment Research upgraded shares of Stitch Fix from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Saturday, September 15th. KeyCorp reiterated a “buy” rating and issued a $53.00 price target (up previously from $38.00) on shares of Stitch Fix in a research note on Thursday, September 13th. ValuEngine upgraded shares of Stitch Fix from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. SunTrust Banks started coverage on shares of Stitch Fix in a research note on Friday, August 10th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Wells Fargo & Co dropped coverage on shares of Stitch Fix in a research note on Tuesday, October 2nd. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Stitch Fix presently has an average rating of “Hold” and a consensus target price of $33.18.
In other news, CFO Paul Yee sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $29.48, for a total transaction of $147,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Mike C. Smith sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $32.69, for a total transaction of $817,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 491,507 shares of company stock valued at $14,531,514 in the last 90 days.
Shares of NASDAQ:SFIX opened at $26.36 on Thursday. The company has a market cap of $2.35 billion and a PE ratio of 67.59. Stitch Fix Inc has a twelve month low of $14.48 and a twelve month high of $52.44.
Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Monday, October 1st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.14. The business had revenue of $318.30 million during the quarter, compared to the consensus estimate of $318.93 million. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, research analysts expect that Stitch Fix Inc will post 0.13 earnings per share for the current fiscal year.
About Stitch Fix
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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