Bank of New York Mellon Corp Boosts Stock Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Bank of New York Mellon Corp grew its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 7.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 258,299 shares of the company’s stock after purchasing an additional 17,943 shares during the period. Bank of New York Mellon Corp’s holdings in Stitch Fix were worth $1,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SFIX. Caprock Group LLC acquired a new stake in shares of Stitch Fix during the 3rd quarter worth about $33,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Stitch Fix by 32.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after buying an additional 121,084 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Stitch Fix in the 3rd quarter valued at $102,000. Captrust Financial Advisors grew its position in shares of Stitch Fix by 14.6% in the 3rd quarter. Captrust Financial Advisors now owns 337,846 shares of the company’s stock valued at $953,000 after buying an additional 42,939 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Stitch Fix during the third quarter worth about $2,862,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

Shares of SFIX opened at $3.80 on Tuesday. The stock 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 1 year low of $2.06 and a 1 year high of $6.99. The company’s fifty day moving average is $4.67 and its two-hundred day 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 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 firm had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. During the same period in the previous year, the business earned ($0.29) earnings per share. The company’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 EPS for the current year.

Analyst Upgrades and Downgrades

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

Stitch Fix Company 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.