Hodges Capital Management Inc. Sells 1,280,200 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Hodges Capital Management Inc. lowered its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 37.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,095,000 shares of the company’s stock after selling 1,280,200 shares during the quarter. Hodges Capital Management Inc. owned approximately 1.65% of Stitch Fix worth $9,029,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SFIX. Disciplined Growth Investors Inc. MN lifted its position in shares of Stitch Fix by 48.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Stitch Fix by 72.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock worth $455,000 after buying an additional 67,892 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Stitch Fix by 2,253.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after buying an additional 140,515 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Stitch Fix by 32.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock valued at $1,408,000 after buying an additional 121,084 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Stitch Fix by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock valued at $6,473,000 after buying an additional 83,220 shares during the period. Institutional investors own 71.04% of the company’s stock.

Analysts Set New Price Targets

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

Stitch Fix Stock Down 3.3 %

Shares of SFIX stock opened at $4.71 on Monday. The stock has a 50-day moving average of $4.59 and a 200-day moving average of $3.91. Stitch Fix, Inc. has a one year low of $2.06 and a one year high of $6.99.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The firm had revenue of $318.82 million during the quarter, compared to the consensus estimate of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. As a group, research analysts expect that Stitch Fix, Inc. will post -0.44 EPS for the current year.

Insider Transactions at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total transaction of $4,190,511.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction on Friday, December 13th. The stock was 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 directly owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by 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.