Bank of New York Mellon Corp Raises Holdings in Stitch Fix, Inc. (NASDAQ:SFIX)

Bank of New York Mellon Corp raised its holdings in Stitch Fix, Inc. (NASDAQ:SFIX) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,299 shares of the company’s stock after purchasing an additional 17,943 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of Stitch Fix worth $1,113,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SFIX. Disciplined Growth Investors Inc. MN raised its holdings in Stitch Fix by 48.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock valued at $38,731,000 after buying an additional 4,460,668 shares during the period. Ieq Capital LLC acquired a new stake in shares of Stitch Fix during the fourth quarter valued at about $299,000. Hodges Capital Management Inc. raised its stake in shares of Stitch Fix by 34.4% in the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after acquiring an additional 864,100 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Stitch Fix by 72.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock worth $455,000 after acquiring an additional 67,892 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Stitch Fix by 2,253.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after acquiring an additional 140,515 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Trading Up 3.8 %

Stitch Fix stock opened at $3.80 on Tuesday. The firm has a market capitalization of $489.43 million, a P/E ratio of -4.58 and a beta of 2.13. Stitch Fix, Inc. has a twelve month low of $2.06 and a twelve month high of $6.99. The stock’s fifty day simple moving average is $4.67 and its 200-day simple moving average is $4.08.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same quarter last year, the company earned ($0.29) EPS. Stitch Fix’s revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

SFIX has been the subject of several research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a report on Wednesday, March 12th. UBS Group boosted their price objective on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their target price on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.50.

Stitch Fix 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.