Twinbeech Capital LP Boosts Stock Position in YETI Holdings, Inc. (NYSE:YETI)

Twinbeech Capital LP raised its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 25.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 188,733 shares of the company’s stock after acquiring an additional 38,331 shares during the period. Twinbeech Capital LP’s holdings in YETI were worth $7,268,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

YETI has been the subject of a number of analyst reports. Canaccord Genuity Group cut their target price on YETI from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Morgan Stanley increased their target price on YETI from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. KeyCorp raised YETI from an “underweight” rating to a “sector weight” rating in a research note on Thursday, April 17th. Robert W. Baird cut their target price on YETI from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, Stifel Nicolaus lowered their price target on YETI from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.40.

YETI Stock Performance

NYSE YETI opened at $31.56 on Tuesday. The business has a 50 day moving average price of $30.52 and a 200 day moving average price of $35.68. The company has a market capitalization of $2.61 billion, a P/E ratio of 15.32, a PEG ratio of 1.05 and a beta of 1.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36. YETI Holdings, Inc. has a 1-year low of $26.61 and a 1-year high of $45.25.

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

YETI Company 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.