Wasatch Advisors LP Increases Stock Holdings in YETI Holdings, Inc. (NYSE:YETI)

Wasatch Advisors LP boosted its stake in YETI Holdings, Inc. (NYSE:YETI) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,529,046 shares of the company’s stock after acquiring an additional 51,443 shares during the period. Wasatch Advisors LP owned 6.52% of YETI worth $212,924,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in shares of YETI by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 3,560,485 shares of the company’s stock valued at $137,114,000 after purchasing an additional 489,063 shares in the last quarter. Geode Capital Management LLC lifted its holdings in YETI by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,427,191 shares of the company’s stock worth $58,573,000 after buying an additional 7,382 shares during the period. Congress Asset Management Co. boosted its position in YETI by 5.6% during the 4th quarter. Congress Asset Management Co. now owns 1,131,060 shares of the company’s stock valued at $43,557,000 after acquiring an additional 60,407 shares in the last quarter. Norges Bank bought a new stake in YETI during the 4th quarter valued at approximately $36,778,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of YETI by 0.7% during the 4th quarter. Bank of New York Mellon Corp now owns 830,807 shares of the company’s stock worth $31,994,000 after acquiring an additional 5,987 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on YETI shares. Canaccord Genuity Group dropped their price target on YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. KeyCorp dropped their target price on shares of YETI from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley reduced their target price on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Robert W. Baird lowered their price target on shares of YETI from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Finally, UBS Group cut their price objective on shares of YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

YETI Stock Performance

Shares of YETI opened at $28.25 on Wednesday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.05 and a beta of 2.04. The business’s fifty day simple moving average is $33.95 and its two-hundred day simple moving average is $37.33. YETI Holdings, Inc. has a 12 month low of $26.66 and a 12 month high of $45.25. The company has a current ratio of 2.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The business had revenue of $555.37 million for the quarter, compared to analysts’ expectations of $554.08 million. Research analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share 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.