Charles Schwab Investment Management Inc. Sells 272,200 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Charles Schwab Investment Management Inc. lowered its stake in Stitch Fix, Inc. (NASDAQ:SFIX) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,225,160 shares of the company’s stock after selling 272,200 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Stitch Fix were worth $5,280,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bellecapital International Ltd. acquired a new stake in shares of Stitch Fix in the fourth quarter valued at approximately $55,000. SBI Securities Co. Ltd. bought a new stake in Stitch Fix in the 4th quarter valued at $29,000. US Bancorp DE acquired a new stake in Stitch Fix during the 4th quarter valued at $220,000. Bank of New York Mellon Corp boosted its position in Stitch Fix by 7.5% during the fourth quarter. Bank of New York Mellon Corp now owns 258,299 shares of the company’s stock worth $1,113,000 after purchasing an additional 17,943 shares during the period. Finally, Ieq Capital LLC bought a new position in Stitch Fix during the fourth quarter worth $299,000. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Trading Down 3.2 %

SFIX stock opened at $3.68 on Wednesday. Stitch Fix, Inc. has a 1-year low of $2.06 and a 1-year high of $6.99. The stock has a 50-day moving average price of $4.67 and a 200-day moving average price of $4.08. The firm has a market cap of $473.97 million, a PE ratio of -4.43 and a beta of 2.13.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The firm had revenue of $312.11 million for the quarter, compared to analyst estimates of $298.04 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. On average, analysts forecast that Stitch Fix, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Telsey Advisory Group restated a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a report on Wednesday, March 12th. UBS Group boosted their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their price objective on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.50.

Stitch Fix 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.