National Asset Management Inc. Trims Position in Stitch Fix Inc (SFIX)
National Asset Management Inc. lessened its stake in Stitch Fix Inc (NASDAQ:SFIX) by 62.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,660 shares of the company’s stock after selling 14,625 shares during the period. National Asset Management Inc.’s holdings in Stitch Fix were worth $380,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SFIX. Light Street Capital Management LLC raised its position in Stitch Fix by 18.6% in the second quarter. Light Street Capital Management LLC now owns 2,010,516 shares of the company’s stock worth $55,169,000 after purchasing an additional 315,101 shares in the last quarter. Penserra Capital Management LLC raised its position in Stitch Fix by 20.2% in the third quarter. Penserra Capital Management LLC now owns 721,068 shares of the company’s stock worth $31,561,000 after purchasing an additional 121,284 shares in the last quarter. Pier Capital LLC raised its position in Stitch Fix by 52.8% in the second quarter. Pier Capital LLC now owns 307,150 shares of the company’s stock worth $8,428,000 after purchasing an additional 106,101 shares in the last quarter. Scopus Asset Management L.P. acquired a new position in Stitch Fix in the second quarter worth about $6,860,000. Finally, Putnam Investments LLC acquired a new position in Stitch Fix in the second quarter worth about $6,019,000. Institutional investors and hedge funds own 23.53% of the company’s stock.
Several research analysts recently issued reports on SFIX shares. Zacks Investment Research raised shares of Stitch Fix from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Saturday, September 15th. KeyCorp reaffirmed a “buy” rating and set a $53.00 price objective (up previously from $38.00) on shares of Stitch Fix in a report on Thursday, September 13th. JPMorgan Chase & Co. increased their price target on shares of Stitch Fix to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, September 25th. Piper Jaffray Companies cut shares of Stitch Fix from an “overweight” rating to a “neutral” rating and increased their price target for the company from $29.00 to $43.00 in a research note on Thursday, September 20th. Finally, SunTrust Banks assumed coverage on shares of Stitch Fix in a research note on Friday, August 10th. They set a “buy” rating and a $38.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Stitch Fix presently has a consensus rating of “Hold” and a consensus target price of $33.18.
Shares of SFIX stock opened at $24.80 on Tuesday. Stitch Fix Inc has a 52-week low of $14.48 and a 52-week high of $52.44. The company has a market capitalization of $2.66 billion and a price-to-earnings ratio of 63.59.
Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Monday, October 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $318.93 million. The firm’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts predict that Stitch Fix Inc will post 0.13 EPS for the current year.
Stitch Fix 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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