Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Stitch Fix, Inc. (NASDAQ:SFIX)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 46.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 732,990 shares of the company’s stock after purchasing an additional 233,848 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Stitch Fix were worth $3,159,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its holdings 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 valued at $38,731,000 after acquiring an additional 4,460,668 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Stitch Fix in the 3rd quarter valued at $2,862,000. Hodges Capital Management Inc. boosted its stake in Stitch Fix by 34.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after purchasing an additional 864,100 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Stitch Fix by 2,253.6% during the third 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. Finally, Geode Capital Management LLC grew its holdings in shares of Stitch Fix by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock worth $6,473,000 after buying an additional 83,220 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Wall Street Analysts Forecast Growth

SFIX has been the subject of a number of recent research reports. Canaccord Genuity Group raised their target price on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research report on Wednesday, March 12th. Finally, UBS Group upped their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, Stitch Fix has an average rating of “Hold” and a consensus price target of $4.50.

Stitch Fix Stock Performance

SFIX stock opened at $3.59 on Tuesday. Stitch Fix, Inc. has a one year low of $2.06 and a one year high of $6.99. The firm has a market cap of $455.35 million, a PE ratio of -4.33 and a beta of 2.13. The firm’s 50 day moving average price is $4.82 and its 200-day moving average price is $4.08.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. The business had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.29) EPS. Equities research analysts predict that Stitch Fix, Inc. will post -0.44 EPS 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.