Bank of New York Mellon Corp Has $21.88 Million Position in YETI Holdings, Inc. (NYSE:YETI)

Bank of New York Mellon Corp reduced its stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 20.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 661,116 shares of the company's stock after selling 169,691 shares during the period. Bank of New York Mellon Corp owned about 0.80% of YETI worth $21,883,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in YETI. Gates Capital Management Inc. purchased a new stake in YETI in the fourth quarter worth about $135,356,000. Reinhart Partners LLC. bought a new position in shares of YETI during the first quarter valued at approximately $35,177,000. Brown Advisory Inc. purchased a new position in shares of YETI in the fourth quarter worth $40,496,000. Westwood Holdings Group Inc. acquired a new stake in shares of YETI in the fourth quarter valued at about $37,098,000. Finally, Norges Bank purchased a new position in shares of YETI in the fourth quarter worth about $36,778,000.

YETI Stock Performance

Shares of YETI opened at $35.13 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. The stock has a 50 day moving average of $31.27 and a 200 day moving average of $33.07. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 2.91 and a beta of 1.85.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on YETI shares. KeyCorp upgraded shares of YETI from an "underweight" rating to a "sector weight" rating in a report on Thursday, April 17th. Raymond James Financial cut their price target on shares of YETI from $50.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Jefferies Financial Group reaffirmed 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 shares of YETI from $41.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Piper Sandler cut their price objective on YETI from $52.00 to $38.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $39.67.

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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