Stitch Fix, Inc. $SFIX Position Trimmed by Working Capital Advisors UK Ltd.

Working Capital Advisors UK Ltd. decreased its holdings in Stitch Fix, Inc. (NASDAQ:SFIX) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,779,324 shares of the company’s stock after selling 1,376,465 shares during the quarter. Stitch Fix accounts for about 44.1% of Working Capital Advisors UK Ltd.’s investment portfolio, making the stock its 2nd largest position. Working Capital Advisors UK Ltd. owned approximately 0.05% of Stitch Fix worth $17,355,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Stitch Fix by 10.1% during the 2nd quarter. State Street Corp now owns 3,503,504 shares of the company’s stock valued at $14,399,000 after acquiring an additional 322,030 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Stitch Fix by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company’s stock worth $8,004,000 after acquiring an additional 142,909 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Stitch Fix during the 2nd quarter worth $6,427,000. Ieq Capital LLC boosted its stake in shares of Stitch Fix by 48.8% during the 2nd quarter. Ieq Capital LLC now owns 394,095 shares of the company’s stock worth $1,620,000 after acquiring an additional 129,202 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Stitch Fix in the 2nd quarter worth $738,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Price Performance

SFIX stock opened at $2.74 on Monday. The company has a 50 day moving average of $2.75 and a two-hundred day moving average of $3.48. Stitch Fix, Inc. has a 12-month low of $2.10 and a 12-month high of $5.74. The company has a market cap of $366.06 million, a price-to-earnings ratio of -27.40 and a beta of 2.45.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Wednesday, September 23rd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. Stitch Fix had a negative net margin of 0.94% and a negative return on equity of 5.75%. The business had revenue of $324.42 million for the quarter, compared to the consensus estimate of $325.50 million. During the same period in the prior year, the business posted ($0.07) earnings per share. Stitch Fix’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that Stitch Fix, Inc. will post -0.15 EPS for the current year.

Analyst Ratings Changes

SFIX has been the topic of a number of recent analyst reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $4.00 target price on shares of Stitch Fix in a research report on Thursday, September 24th. Weiss Ratings lowered Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 23rd. Mizuho raised Stitch Fix from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $3.00 to $2.50 in a research note on Tuesday, September 29th. UBS Group cut their price objective on Stitch Fix from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, September 24th. Finally, Telsey Advisory Group reduced their price objective on shares of Stitch Fix from $5.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, September 24th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.40.

About Stitch Fix

Stitch Fix, Inc is an online personal styling company that uses data science, technology and human stylists to recommend apparel and accessories tailored to individual customers. Its service is designed to help consumers discover clothing through personalized selections based on their stated preferences, fit information, lifestyle and purchase history.

The company’s primary offering is its “Fix” experience, in which customers receive a curated shipment of merchandise selected by Stitch Fix and can keep the items they want while returning the rest.