BlackRock Fund Advisors 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 13.90% to 6.85 million shares with purchase of 0.84 million shares. This fresh investment now brings its stake to 7.75% valued currently at $30.05 million. In addition, Potrero Capital Research LLC raised its holdings by 0.86 million to 4.54 million shares. And Divisar Capital Management LLC has lifted its position by 214.73% or 2.55 million shares – to 3.74 million shares.
With over 5.23 million Stitch Fix Inc. (SFIX) shares trading Monday and a closing price of $3.05 on the day, the dollar volume was approximately $15.96 million. The shares have shown a negative half year performance of -40.20% and its price on 09/18/23 lost nearly -5.57%. Currently, there are 115.44M common shares owned by the public and among those 81.51M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for SFIX have a consensus price objective of $4.35. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $3.00. The average price target is 31.0% above its recent price level and a downside to the estimated low will see the stock lose -1.67% over that period. But an upside of 39.0% will see the stock hit the forecast high price target while median target price for the stock is $4.25.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 2,441,308 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 203,535 shares.
The top 3 mutual fund holders in Stitch Fix Inc. are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Bridgeway Small Cap Value Fund. Vanguard Total Stock Market ETF owns 2.45 million shares of the company’s stock, all valued at over $10.74 million. iShares Russell 2000 ETF sold 2744.0 shares to see its total holdings shrink to 1.95 million shares valued at over $8.54 million and representing 2.20% of the shares outstanding. Bridgeway Small Cap Value Fund now owns shares totaling to 1.33% of the shares outstanding.
Shares of Stitch Fix Inc. (NASDAQ: SFIX) opened at $3.21, down -$0.02 from a prior closing price of $3.23. However, the script later moved the day high at 3.2100, down -5.57%. The company’s stock has a 5-day price change of -21.99% and -24.13% over the past three months. SFIX shares are trading -1.93% year to date (YTD), with the 12-month market performance down to -38.13% lower. It has a 12-month low price of $2.63 and touched a high of $6.03 over the same period. SFIX has an average intraday trading volume of 2.13 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 -21.56%, -26.32%, and -26.03% respectively.
Institutional ownership of Stitch Fix Inc. (NASDAQ: SFIX) shares accounts for 90.20% of the company’s 115.44M shares outstanding. Mutual fund holders own 25.39%, while other institutional holders and individual stakeholders account for 60.86% and 25.27% respectively.
It has a market capitalization of $359.38M and a beta (3y monthly) value of 2.27. The earnings-per-share (ttm) stands at -$2.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.50% over the week and 6.04% over the month.
Analysts forecast that Stitch Fix Inc. (SFIX) will achieve an EPS of $Stitch Fix, Inc. for the current quarter, $3.05 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Orthofix Medical Inc. while analysts give the company a high EPS estimate of $Six Flags Entertainment Corpora. Comparatively, EPS for the current quarter was $Comfort Systems USA, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -799.10%, and 48.30% over the next financial year. EPS should shrink at an annualized rate of 29.60% over the next five years, compared to 36.03% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Stitch Fix Inc. (SFIX) as a “Hold” at a consensus score of 3.10. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 10 of the 11 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the SFIX, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on January 06, 2023, with the firm’s price target at $4.
