Canada Pension Plan Investment Board Has $9.39 Million Stock Holdings in YETI Holdings, Inc. $YETI

Key Points

• The Canada Pension Plan Investment Board reduced its stake in YETI Holdings, Inc. by 22.2% in the first quarter, now holding approximately 283,600 shares worth about $9.39 million.
• Significant institutional investment activity included the State of Wyoming increasing its holdings in YETI by 24.4%, while several other firms made substantial increases to their positions in the stock.
• YETI reported quarterly earnings of $0.66 per share, surpassing estimates, but its revenue decreased by 3.8% year-over-year, raising concerns about future performance amidst guidance for FY 2025 earnings.

Canada Pension Plan Investment Board lessened its stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 283,600 shares of the company's stock after selling 81,100 shares during the quarter. Canada Pension Plan Investment Board owned 0.34% of YETI worth $9,387,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State of Wyoming increased its stake in YETI by 24.4% in the 1st quarter. State of Wyoming now owns 14,328 shares of the company's stock valued at $474,000 after buying an additional 2,807 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in YETI by 3.4% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 61,964 shares of the company's stock valued at $2,051,000 after purchasing an additional 2,010 shares during the last quarter. Ieq Capital LLC boosted its position in YETI by 1,026.1% during the first quarter. Ieq Capital LLC now owns 113,317 shares of the company's stock valued at $3,751,000 after purchasing an additional 103,254 shares during the last quarter. Jump Financial LLC boosted its position in YETI by 66.8% during the first quarter. Jump Financial LLC now owns 36,061 shares of the company's stock valued at $1,194,000 after purchasing an additional 14,437 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in YETI by 677.8% during the first quarter. AlphaQuest LLC now owns 9,474 shares of the company's stock valued at $314,000 after purchasing an additional 8,256 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on YETI. Citigroup lifted their price objective on YETI from $36.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Canaccord Genuity Group boosted their target price on shares of YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating and issued a $37.00 target price (up from $34.00) on shares of YETI in a research report on Friday, August 8th. Morgan Stanley reissued a "cautious" rating on shares of YETI in a research report on Monday, August 11th. Finally, Stifel Nicolaus boosted their target price on shares of YETI from $31.00 to $33.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, YETI presently has an average rating of "Hold" and a consensus target price of $38.54.

YETI Stock Performance

Shares of NYSE YETI traded up $0.09 during trading hours on Friday, hitting $36.30. 1,663,594 shares of the stock were exchanged, compared to its average volume of 1,719,443. The firm has a market capitalization of $2.95 billion, a P/E ratio of 17.28, a P/E/G ratio of 2.56 and a beta of 1.86. YETI Holdings, Inc. has a one year low of $26.61 and a one year high of $45.25. The company's 50 day moving average is $34.82 and its 200 day moving average is $32.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.52 and a quick ratio of 1.48.

YETI (NYSE:YETI - Get Free Report) last released its 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 firm had revenue of $445.89 million during the quarter, compared to analysts' expectations of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. The business's quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. On average, research analysts expect that YETI Holdings, Inc. will post 2.57 EPS for the current year.

YETI Company 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.