Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Stitch Fix Inc (NASDAQ:SFIX) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 555,970 shares of the company’s stock after selling 10,240 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.56% of Stitch Fix worth $24,335,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Stitch Fix during the first quarter worth $296,000. Bank of Montreal Can lifted its stake in shares of Stitch Fix by 1,726.0% during the second quarter. Bank of Montreal Can now owns 67,195 shares of the company’s stock worth $1,844,000 after buying an additional 63,515 shares during the period. First Trust Advisors LP acquired a new stake in shares of Stitch Fix during the second quarter worth $2,716,000. D.A. Davidson & CO. acquired a new stake in shares of Stitch Fix during the second quarter worth $203,000. Finally, Brighton Jones LLC acquired a new stake in shares of Stitch Fix during the second quarter worth $1,503,000. 23.53% of the stock is owned by hedge funds and other institutional investors.
In other Stitch Fix news, major shareholder Steven M. Spurlock sold 329,621 shares of Stitch Fix stock in a transaction on Friday, October 5th. The shares were sold at an average price of $26.48, for a total value of $8,728,364.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mike C. Smith sold 25,000 shares of Stitch Fix stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $26.78, for a total transaction of $669,500.00. The disclosure for this sale can be found here. Insiders sold 409,621 shares of company stock valued at $11,439,264 in the last ninety days. 56.97% of the stock is owned by corporate insiders.
Shares of Stitch Fix stock opened at $26.65 on Friday. Stitch Fix Inc has a 1 year low of $18.00 and a 1 year high of $52.44.
Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Monday, October 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.14. Stitch Fix had a net margin of 3.66% and a return on equity of 19.95%. The firm had revenue of $318.30 million during the quarter, compared to analysts’ expectations of $318.93 million. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts forecast that Stitch Fix Inc will post 0.13 earnings per share for the current fiscal year.
Several research firms have recently commented on SFIX. ValuEngine downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a research note on Monday. Wolfe Research initiated coverage on shares of Stitch Fix in a report on Monday, November 19th. They set a “peer perform” rating for the company. Zacks Investment Research cut shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Wells Fargo & Co dropped coverage on shares of Stitch Fix in a report on Tuesday, October 2nd. Finally, Stifel Nicolaus raised their target price on shares of Stitch Fix from $26.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $33.18.
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Stitch Fix Company 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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