Hussman Strategic Advisors Inc. Makes New $2.09 Million Investment in YETI Holdings, Inc. (NYSE:YETI)

Hussman Strategic Advisors Inc. purchased a new position in shares of YETI Holdings, Inc. (NYSE:YETI) during the first quarter, Holdings Channel.com reports. The fund purchased 63,000 shares of the company’s stock, valued at approximately $2,085,000.

Several other hedge funds also recently made changes to their positions in the business. Xponance Inc. grew its stake in shares of YETI by 2.6% in the 4th quarter. Xponance Inc. now owns 13,250 shares of the company’s stock worth $510,000 after purchasing an additional 340 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in YETI by 1.0% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 51,779 shares of the company’s stock valued at $1,994,000 after acquiring an additional 497 shares during the last quarter. Covestor Ltd lifted its stake in YETI by 20.2% in the fourth quarter. Covestor Ltd now owns 3,463 shares of the company’s stock valued at $133,000 after acquiring an additional 583 shares during the last quarter. Bridge City Capital LLC lifted its stake in YETI by 1.3% in the first quarter. Bridge City Capital LLC now owns 58,887 shares of the company’s stock valued at $1,949,000 after acquiring an additional 755 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in YETI by 14.5% in the first quarter. Portside Wealth Group LLC now owns 6,025 shares of the company’s stock valued at $199,000 after acquiring an additional 762 shares during the last quarter.

Analyst Upgrades and Downgrades

YETI has been the subject of a number of analyst reports. KeyCorp upgraded shares of YETI from an “underweight” rating to a “sector weight” rating in a research note on Thursday, April 17th. Morgan Stanley lifted their target price on shares of YETI from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. The Goldman Sachs Group reduced their price objective on shares of YETI from $41.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of YETI in a research note on Monday, May 5th. Finally, Stifel Nicolaus reduced their price objective on shares of YETI from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.67.

YETI Stock Performance

YETI stock traded down $0.11 on Friday, reaching $34.99. 235,727 shares of the company were exchanged, compared to its average volume of 2,076,504. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25. The stock’s fifty day moving average price is $31.27 and its 200 day moving average price is $33.07. The firm has a market capitalization of $2.90 billion, a PE ratio of 16.82, a PEG ratio of 2.91 and a beta of 1.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 1.47.

YETI (NYSE:YETI) last announced its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. YETI had a net margin of 9.59% and a return on equity of 26.48%. YETI’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, research analysts anticipate that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

About YETI

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.