Focus Partners Wealth Increases Position in YETI Holdings, Inc. (NYSE:YETI)

Focus Partners Wealth lifted its position in YETI Holdings, Inc. (NYSE:YETI) by 45.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,323 shares of the company’s stock after purchasing an additional 9,815 shares during the quarter. Focus Partners Wealth’s holdings in YETI were worth $1,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinebridge Investments L.P. increased its stake in shares of YETI by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company’s stock worth $1,466,000 after purchasing an additional 11,391 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of YETI by 1,172.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company’s stock worth $609,000 after purchasing an additional 14,565 shares in the last quarter. Boothbay Fund Management LLC increased its stake in shares of YETI by 983.0% in the fourth quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company’s stock worth $4,659,000 after purchasing an additional 109,803 shares in the last quarter. Truist Financial Corp increased its stake in shares of YETI by 304.2% in the fourth quarter. Truist Financial Corp now owns 28,501 shares of the company’s stock worth $1,098,000 after purchasing an additional 21,450 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in YETI during the fourth quarter valued at $10,767,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on YETI. KeyCorp upgraded shares of YETI from an “underweight” rating to a “sector weight” rating in a report on Thursday, April 17th. Robert W. Baird reduced their price target on shares of YETI from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Stifel Nicolaus reduced their price target on shares of YETI from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Canaccord Genuity Group reduced their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Finally, Piper Sandler reduced their price target on shares of YETI from $52.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.40.

YETI Stock Performance

Shares of NYSE:YETI opened at $32.14 on Friday. YETI Holdings, Inc. has a 52 week low of $26.61 and a 52 week high of $45.25. The stock has a market capitalization of $2.66 billion, a P/E ratio of 15.60, a PEG ratio of 1.05 and a beta of 1.91. The firm has a fifty day simple moving average of $30.56 and a two-hundred day simple moving average of $35.70. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. YETI had a net margin of 9.60% and a return on equity of 28.23%. The firm had revenue of $351.13 million during the quarter, compared to analysts’ expectations of $347.72 million. During the same period in the previous year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts expect that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

YETI Profile

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.