Bayforest Capital Ltd Makes New $908,000 Investment in YETI Holdings, Inc. $YETI

Key Points

• Bayforest Capital Ltd has acquired a new stake in YETI Holdings, purchasing 27,421 shares valued at approximately $908,000 during the first quarter.
• YETI's recent earnings report revealed a quarterly EPS of $0.66, surpassing estimates, but its revenue was down 3.8% from the previous year.
• Five analysts have rated YETI as a Buy, while nine have assigned a Hold rating, with an average price target of $38.54.

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

A number of other hedge funds have also made changes to their positions in the business. Homestead Advisers Corp grew its stake in YETI by 15.2% during the 1st quarter. Homestead Advisers Corp now owns 95,300 shares of the company's stock worth $3,154,000 after buying an additional 12,600 shares during the last quarter. Jump Financial LLC grew its stake in YETI by 66.8% during the 1st quarter. Jump Financial LLC now owns 36,061 shares of the company's stock worth $1,194,000 after buying an additional 14,437 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in YETI by 44.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 321,065 shares of the company's stock worth $10,627,000 after buying an additional 98,884 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in YETI by 8.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 66,596 shares of the company's stock worth $2,244,000 after buying an additional 5,199 shares during the last quarter. Finally, Inspire Advisors LLC purchased a new position in YETI during the 1st quarter worth approximately $628,000.

Analysts Set New Price Targets

A number of analysts have weighed in on YETI shares. UBS Group increased their price objective on YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $37.00 price objective (up from $34.00) on shares of YETI in a research report on Friday, August 8th. Citigroup increased their price objective on YETI from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Canaccord Genuity Group increased their price objective on YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Finally, Cowen reaffirmed a "hold" rating on shares of YETI in a research report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.54.

YETI Price Performance

Shares of YETI traded down $1.13 during mid-day trading on Friday, hitting $35.50. The company's stock had a trading volume of 1,381,101 shares, compared to its average volume of 2,117,186. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $35.08 and a 200 day simple moving average of $32.55. The firm has a market capitalization of $2.88 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.50 and a beta of 1.86. YETI Holdings, Inc. has a 1-year low of $26.61 and a 1-year high of $45.25.

YETI (NYSE:YETI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.54 by $0.12. The business had revenue of $445.89 million during 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%.The company's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. Analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal 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.