Bayforest Capital Ltd Takes $908,000 Position in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Bayforest Capital Ltd acquired 27,421 shares of YETI Holdings, Inc. valued at approximately $908,000 in the first quarter.
• Goldman Sachs lowered its target price on YETI stock from $41.00 to $29.00, while Citigroup raised its target from $36.00 to $44.00, indicating mixed analyst sentiment.
• YETI reported $0.31 earnings per share for the last quarter, surpassing expectations and showing a year-over-year revenue increase of 2.8%.

Bayforest Capital Ltd purchased a new stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,421 shares of the company's stock, valued at approximately $908,000.

Several other hedge funds have also modified their holdings of the stock. LPL Financial LLC grew its stake in shares of YETI by 18.9% during the first quarter. LPL Financial LLC now owns 42,135 shares of the company's stock valued at $1,395,000 after purchasing an additional 6,710 shares during the last quarter. Inspire Advisors LLC bought a new position in YETI in the first quarter valued at approximately $628,000. Knights of Columbus Asset Advisors LLC boosted its stake in YETI by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 54,429 shares of the company's stock valued at $1,802,000 after acquiring an additional 1,443 shares during the last quarter. Assetmark Inc. boosted its stake in YETI by 9.7% in the first quarter. Assetmark Inc. now owns 6,421 shares of the company's stock valued at $213,000 after acquiring an additional 568 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in YETI by 34.3% in the first quarter. Cetera Investment Advisers now owns 27,690 shares of the company's stock valued at $917,000 after acquiring an additional 7,065 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on YETI shares. Raymond James Financial reduced their price objective on shares of YETI from $50.00 to $34.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. KeyCorp raised shares of YETI from an "underweight" rating to a "sector weight" rating in a research note on Thursday, April 17th. Robert W. Baird reduced their price objective on shares of YETI from $50.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group cut their target price on shares of YETI from $41.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup increased their target price on shares of YETI from $36.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.47.

YETI Stock Down 1.5%

YETI stock traded down $0.54 during midday trading on Thursday, hitting $36.72. The company's stock had a trading volume of 2,381,271 shares, compared to its average volume of 2,308,968. 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 Holdings, Inc. has a twelve month low of $26.61 and a twelve month high of $45.25. The company's fifty day moving average price is $32.56 and its 200 day moving average price is $33.04. The stock has a market capitalization of $3.04 billion, a P/E ratio of 17.65, a PEG ratio of 3.21 and a beta of 1.85.

YETI (NYSE:YETI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. YETI had a net margin of 9.59% and a return on equity of 26.48%. The firm had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. During the same period in the previous year, the business earned $0.34 EPS. The company's revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current 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.