Hodges Capital Management Inc. Decreases Stake in Stitch Fix, Inc. $SFIX

Key Points

• Hodges Capital Management Inc. reduced its stake in Stitch Fix, Inc. by 26.7%, holding approximately 1.19% of the company after selling 559,087 shares during the first quarter.
• Insider trading activity included CFO David Aufderhaar selling 20,538 shares and another insider selling 90,000 shares, both transactions indicating a decrease in their respective positions.
• Equities research analysts have set a consensus rating of "Hold" for Stitch Fix with an average target price of $5.67 following various upgrades and downgrades over recent months.

Hodges Capital Management Inc. reduced its holdings in Stitch Fix, Inc. (NASDAQ:SFIX - Free Report) by 26.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,535,913 shares of the company's stock after selling 559,087 shares during the period. Hodges Capital Management Inc. owned approximately 1.19% of Stitch Fix worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Wescott Financial Advisory Group LLC purchased a new position in Stitch Fix during the first quarter worth about $32,000. Martingale Asset Management L P acquired a new stake in shares of Stitch Fix during the first quarter valued at about $85,000. Diversified Trust Co acquired a new stake in shares of Stitch Fix during the first quarter valued at about $99,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Stitch Fix by 96.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,786 shares of the company's stock valued at $107,000 after acquiring an additional 12,177 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Stitch Fix by 68.0% during the fourth quarter. ProShare Advisors LLC now owns 28,525 shares of the company's stock valued at $123,000 after acquiring an additional 11,542 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO David Aufderhaar sold 20,538 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $5.10, for a total transaction of $104,743.80. Following the completion of the sale, the chief financial officer owned 937,338 shares in the company, valued at approximately $4,780,423.80. The trade was a 2.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony Bacos sold 90,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $5.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider owned 829,966 shares of the company's stock, valued at approximately $4,149,830. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 957,536 shares of company stock worth $4,845,302. Insiders own 16.95% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SFIX shares. Zacks Research upgraded shares of Stitch Fix to a "hold" rating in a research report on Monday, August 11th. Telsey Advisory Group restated a "market perform" rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Wednesday, June 11th. William Blair upgraded shares of Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Finally, Wall Street Zen cut shares of Stitch Fix from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Stitch Fix has a consensus rating of "Hold" and an average target price of $5.67.

Stitch Fix Stock Up 1.6%

NASDAQ SFIX opened at $5.80 on Friday. Stitch Fix, Inc. has a 52 week low of $2.21 and a 52 week high of $6.99. The stock has a market capitalization of $756.84 million, a PE ratio of -12.61 and a beta of 2.03. The firm has a 50 day moving average of $4.90 and a two-hundred day moving average of $4.18.

Stitch Fix (NASDAQ:SFIX - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. Stitch Fix had a negative net margin of 4.44% and a negative return on equity of 18.15%. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts expect that Stitch Fix, Inc. will post -0.44 earnings per share for the current fiscal year.

Stitch Fix Company Profile

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.

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