Comerica Bank Has $1.06 Million Holdings in YETI Holdings, Inc. $YETI

Key Points

• Comerica Bank reduced its position in YETI Holdings, Inc. by 28.9%, now holding 32,122 shares worth approximately $1.06 million.
• Several institutional investors increased their holdings in YETI, including Jump Financial LLC, which raised its position by 66.8% and now owns 36,061 shares valued at $1.19 million.
• YETI reported $0.66 EPS for the last quarter, surpassing expectations but showing a 3.8% year-over-year revenue decline, with a guidance of 2.340-2.480 EPS for FY 2025.

Comerica Bank trimmed its holdings in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 28.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,122 shares of the company's stock after selling 13,081 shares during the period. Comerica Bank's holdings in YETI were worth $1,063,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of YETI. Costello Asset Management INC acquired a new position in shares of YETI during the 1st quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of YETI during the 1st quarter worth about $34,000. LRI Investments LLC acquired a new position in shares of YETI during the 1st quarter worth about $65,000. Covestor Ltd boosted its stake in shares of YETI by 35.2% during the 1st quarter. Covestor Ltd now owns 4,683 shares of the company's stock worth $155,000 after buying an additional 1,220 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its stake in shares of YETI by 14.5% during the 1st quarter. Portside Wealth Group LLC now owns 6,025 shares of the company's stock worth $199,000 after buying an additional 762 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on YETI. Raymond James Financial restated an "outperform" rating and set a $37.00 price objective (up from $34.00) on shares of YETI in a research note on Friday, August 8th. Morgan Stanley reaffirmed a "cautious" rating on shares of YETI in a report on Monday, August 11th. Stifel Nicolaus upped their target price on shares of YETI from $31.00 to $33.00 and gave the company a "hold" rating in a report on Friday, August 8th. UBS Group upped their target price on shares of YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Citigroup upped their target price on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $38.54.

YETI Stock Performance

YETI stock traded down $0.33 during trading hours on Wednesday, hitting $35.28. The company had a trading volume of 804,473 shares, compared to its average volume of 2,120,300. The firm has a market cap of $2.87 billion, a PE ratio of 16.81, a PEG ratio of 2.52 and a beta of 1.86. 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 Holdings, Inc. has a one year low of $26.61 and a one year high of $45.25. The firm has a 50-day moving average of $34.96 and a 200 day moving average of $32.53.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.12. YETI had a net margin of 9.73% and a return on equity of 24.60%. The firm had revenue of $445.89 million for the quarter, compared to analysts' expectations of $461.73 million. During the same period in the prior year, the firm earned $0.70 EPS. The business's revenue was down 3.8% on a year-over-year basis. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. On average, sell-side analysts expect that YETI Holdings, Inc. will post 2.57 earnings per share for the current 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.