Jackson Square Partners LLC recently announced the acquisition of new stake in Stitch Fix Inc. (NASDAQ:SFIX). The institutional investor has increased its shareholding in the Consumer Cyclical company by 20.48% to 7.46 million shares with purchase of 1.27 million shares. This fresh investment now brings its stake to 13.09% valued currently at $165.26 million. In addition, Baillie Gifford & Co. raised its holdings by 0.23 million to 4.9 million shares. And BlackRock Fund Advisors has lifted its position by 27.75% or 0.63 million shares – to 2.89 million shares.
With over 1.45 million Stitch Fix Inc. (SFIX) shares trading Monday and a closing price of $24.15 on the day, the dollar volume was approximately $34.95 million. The shares have shown a negative weekly performance of -5.11% and its price on 08/31/20 gained nearly 1.60%. Currently, there are 102.65M common shares owned by the public and among those 54.58M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for SFIX have a consensus price objective of $26.71. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $18.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Stitch Fix Inc. stock is 2.20 for the next 12 months. The average price target is 10.56% above its last price level and an upside to the estimated low will see the stock lose -34.17% over that period. But an upside of 31.0% will see the stock hit the forecast high price target while mean target price for the stock is $28.00.
Insiders at the company have transacted a total of 258 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 122 of these insider trades were purchases, accounting for 3,572,631 shares. Insider sales of the common stock occurred on 136 occasions, with total insider shares sold totaling 1,773,289 shares.
The top 3 mutual fund holders in Stitch Fix Inc. are Miller Opportunity Trust, Baillie Gifford Overseas Growth F, and Vanguard US Growth Fund. Miller Opportunity Trust owns 2.0 million shares of the company’s stock, all valued at over $44.3 million. The company sold 100000.0 shares recently to bring their total holdings to about 3.51% of the shares outstanding. Baillie Gifford Overseas Growth F bought 0.11 million shares to see its total holdings expand to 1.74 million shares valued at over $38.54 million and representing 3.05% of the shares outstanding. Vanguard US Growth Fund now owns shares totaling to 3.00% of the shares outstanding.
Shares of Stitch Fix Inc. (NASDAQ: SFIX) opened at $23.816, up $0.05 from a prior closing price of $23.77. However, the script later closed the day at $24.15, up 1.60%. The company’s stock has a 5-day price change of -5.11% and -0.25% over the past three months. SFIX shares are trading -5.88% year to date (YTD), with the 12-month market performance up to 26.71% higher. It has a 12-month low price of $10.90 and touched a high of $30.44 over the same period. Currently, 1.45 million shares have been traded, compared to an average intraday trading volume of 2.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.46%, -2.21%, and 8.86% respectively.
Institutional ownership of Stitch Fix Inc. (NASDAQ: SFIX) shares accounts for 94.70% of the company’s 102.65M shares outstanding. Mutual fund holders own 36.09%, while other institutional holders and individual stakeholders account for 57.21% and 10.98% respectively.
It has a market capitalization of $2.47B. The earnings-per-share (ttm) stands at -$0.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.00% over the week and 4.91% over the month.
Analysts forecast that Stitch Fix Inc. (SFIX) will achieve an EPS of -$0.16 for the current quarter, -$0.06 for the next quarter and -$0.13 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was $0.07 a year ago. Earnings per share for the fiscal year are expected to decrease by -25.50%, and 65.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Stitch Fix Inc. (SFIX) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 7 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SFIX, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on June 17, 2020, with the firm’s price target at $30. Telsey Advisory Group coverage for the Stitch Fix Inc. (SFIX) stock in a research note released on June 03, 2020 offered a Outperform rating with a price target of $29. Nomura was of a view on March 18, 2020 that the stock is Buy, while JP Morgan gave the stock Neutral rating on March 10, 2020, issuing a price target of $27- $17. Telsey Advisory Group on their part issued Outperform rating on March 10, 2020.