Franklin Resources Inc. Has $391,000 Stock Holdings in Stitch Fix, Inc. (NASDAQ:SFIX)

Franklin Resources Inc. grew its position in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 68.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,261 shares of the company’s stock after buying an additional 58,412 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Stitch Fix worth $391,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Caprock Group LLC bought a new position in Stitch Fix during the third quarter worth about $33,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Stitch Fix during the 3rd quarter worth approximately $36,000. Meeder Asset Management Inc. bought a new position in shares of Stitch Fix during the third quarter worth approximately $44,000. CWM LLC raised its position in shares of Stitch Fix by 112.1% in the third quarter. CWM LLC now owns 25,175 shares of the company’s stock valued at $71,000 after buying an additional 13,308 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after buying an additional 6,194 shares during the period. Institutional investors and hedge funds own 71.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Telsey Advisory Group raised their price objective on Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. UBS Group raised their price target on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, Stitch Fix presently has a consensus rating of “Hold” and an average price target of $3.96.

Stitch Fix Trading Up 0.5 %

Shares of NASDAQ SFIX opened at $4.31 on Wednesday. The company has a market cap of $546.67 million, a price-to-earnings ratio of -5.19 and a beta of 1.99. Stitch Fix, Inc. has a 12 month low of $2.06 and a 12 month high of $6.99. The stock has a 50-day moving average price of $3.99 and a two-hundred day moving average price of $3.80.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The business had revenue of $318.82 million during the quarter, compared to analysts’ expectations of $306.88 million. During the same period in the prior year, the company earned ($0.30) EPS. The firm’s quarterly revenue was down 12.6% compared to the same quarter last year. On average, sell-side analysts predict that Stitch Fix, Inc. will post -0.46 earnings per share for the current year.

Insider Activity

In other news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the completion of the transaction, the insider now owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is owned by corporate insiders.

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.