Allianz Asset Management GmbH Purchases New Shares in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Allianz Asset Management GmbH invested $344,000 in YETI Holdings by purchasing 10,395 shares in the first quarter.
• Several hedge funds, including Pinebridge Investments and Tower Research Capital, significantly increased their stakes in YETI Holdings during the fourth quarter.
• YETI's quarterly earnings report showed a net revenue increase of 2.8% year-over-year, with earnings per share of $0.31, surpassing estimates.

Allianz Asset Management GmbH purchased a new stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 10,395 shares of the company's stock, valued at approximately $344,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Gates Capital Management Inc. bought a new position in shares of YETI in the fourth quarter worth approximately $135,356,000. Reinhart Partners LLC. bought a new stake in YETI during the 1st quarter worth approximately $35,177,000. Brown Advisory Inc. purchased a new stake in YETI during the 4th quarter valued at approximately $40,496,000. Westwood Holdings Group Inc. purchased a new stake in YETI during the 4th quarter valued at approximately $37,098,000. Finally, Norges Bank purchased a new position in shares of YETI in the fourth quarter valued at $36,778,000.

YETI Stock Performance

YETI traded down $0.82 during trading on Friday, reaching $35.92. 1,794,759 shares of the company's stock were exchanged, compared to its average volume of 2,466,668. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 1.47. The stock has a market capitalization of $2.97 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 3.10 and a beta of 1.84. The company's fifty day simple moving average is $32.69 and its 200-day simple moving average is $32.97.

YETI (NYSE:YETI - Get Free Report) last posted its quarterly 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. YETI had a net margin of 9.59% and a return on equity of 26.48%. The company had revenue of $351.13 million during the quarter, compared to analyst estimates of $347.72 million. During the same period last year, the firm posted $0.34 EPS. YETI's revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts predict that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on YETI shares. Raymond James Financial decreased their target price on YETI from $50.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Piper Sandler decreased their price target on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of YETI in a report on Monday, May 5th. The Goldman Sachs Group cut their price objective on YETI from $41.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley raised their target price on YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.47.

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.