Creative Planning Grows Stake in Stitch Fix, Inc. (NASDAQ:SFIX)

Creative Planning lifted its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 32.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,477 shares of the company’s stock after acquiring an additional 6,194 shares during the quarter. Creative Planning’s holdings in Stitch Fix were worth $72,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN lifted its holdings in Stitch Fix by 34.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock worth $38,486,000 after purchasing an additional 2,396,920 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Stitch Fix by 11.7% during the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after buying an additional 465,900 shares during the period. Maple Rock Capital Partners Inc. purchased a new stake in shares of Stitch Fix in the first quarter worth about $8,994,000. Hodges Capital Management Inc. increased its holdings in shares of Stitch Fix by 286.2% in the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after purchasing an additional 1,860,950 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Stitch Fix by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,625 shares of the company’s stock worth $1,306,000 after acquiring an additional 52,538 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on SFIX shares. UBS Group dropped their target price on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research report on Friday, October 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group decreased their price objective on Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, Stitch Fix has a consensus rating of “Hold” and an average price target of $3.27.

Stitch Fix Stock Down 3.0 %

NASDAQ:SFIX opened at $3.84 on Wednesday. The company has a fifty day moving average of $3.24 and a 200 day moving average of $3.40. The firm has a market capitalization of $487.07 million, a P/E ratio of -3.56 and a beta of 1.87. Stitch Fix, Inc. has a 52 week low of $2.06 and a 52 week high of $5.05.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The company had revenue of $319.55 million for the quarter, compared to the consensus estimate of $317.48 million. Stitch Fix had a negative return on equity of 40.62% and a negative net margin of 9.63%. As a group, analysts anticipate that Stitch Fix, Inc. will post -0.61 EPS for the current year.

About Stitch Fix

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.