Amundi Cuts Holdings in YETI Holdings, Inc. $YETI

Key Points

• Amundi reduced its stake in YETI Holdings, Inc. by 24.3%, owning 84,051 shares worth approximately $2.78 million after selling nearly 27,000 shares in the first quarter.
• Several large investors are increasing their positions in YETI, with American Century Companies raising its stake by 48.9% to over 2.15 million shares, reflecting growing institutional interest in the stock.
• YETI's stock received upgraded price targets from multiple analysts, with UBS Group's target increasing from $31.00 to $35.00 and Raymond James raising it to $37.00, indicating a general optimistic outlook among analysts.

Amundi trimmed its holdings in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 24.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,051 shares of the company's stock after selling 26,976 shares during the period. Amundi owned about 0.10% of YETI worth $2,782,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of YETI. Reinhart Partners LLC. purchased a new position in shares of YETI during the 1st quarter worth approximately $35,177,000. Westwood Holdings Group Inc. purchased a new position in shares of YETI during the 4th quarter worth approximately $37,098,000. American Century Companies Inc. raised its stake in shares of YETI by 48.9% during the 1st quarter. American Century Companies Inc. now owns 2,150,724 shares of the company's stock worth $71,189,000 after buying an additional 706,601 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of YETI by 36.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,093,357 shares of the company's stock worth $36,190,000 after buying an additional 289,708 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of YETI during the 1st quarter worth approximately $8,462,000.

Wall Street Analyst Weigh In

YETI has been the subject of a number of analyst reports. UBS Group increased their target price on YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Raymond James Financial restated an "outperform" rating and issued a $37.00 price target (up previously from $34.00) on shares of YETI in a report on Friday, August 8th. Morgan Stanley restated a "cautious" rating on shares of YETI in a report on Monday, August 11th. Stifel Nicolaus upped their price target on YETI from $31.00 to $33.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Finally, Canaccord Genuity Group upped their price target on YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, YETI currently has an average rating of "Hold" and a consensus target price of $38.54.

YETI Price Performance

Shares of NYSE:YETI opened at $36.64 on Friday. The business's fifty day moving average price is $35.08 and its two-hundred day moving average price is $32.55. The stock has a market cap of $2.98 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.50 and a beta of 1.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.52. YETI Holdings, Inc. has a one year low of $26.61 and a one year high of $45.25.

YETI (NYSE:YETI - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. The firm had revenue of $445.89 million for the quarter, compared to analysts' expectations of $461.73 million. YETI had a return on equity of 24.60% and a net margin of 9.73%.YETI's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. On average, analysts forecast 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.

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