Cresset Asset Management LLC Makes New Investment in YETI Holdings, Inc. $YETI

Key Points

• Cresset Asset Management LLC has purchased a new stake in YETI Holdings, acquiring 8,668 shares valued at approximately $287,000.
• Several institutional investors, including Gates Capital Management Inc. and American Century Companies Inc., have significantly increased their holdings in YETI recently.
• YETI reported a quarterly earnings per share (EPS) of $0.66, exceeding analysts' expectations, although its revenue of $445.89 million fell short of estimates.

Cresset Asset Management LLC purchased a new stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 8,668 shares of the company's stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in YETI. Mariner LLC increased its holdings in YETI by 12.4% during the fourth quarter. Mariner LLC now owns 19,345 shares of the company's stock valued at $745,000 after buying an additional 2,132 shares during the last quarter. First Trust Advisors LP increased its stake in shares of YETI by 45.4% in the 4th quarter. First Trust Advisors LP now owns 357,123 shares of the company's stock worth $13,753,000 after purchasing an additional 111,447 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of YETI by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,170 shares of the company's stock worth $57,812,000 after purchasing an additional 22,123 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of YETI by 9.0% in the 4th quarter. MetLife Investment Management LLC now owns 48,939 shares of the company's stock worth $1,885,000 after purchasing an additional 4,024 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in shares of YETI by 399.3% in the 4th quarter. MML Investors Services LLC now owns 40,946 shares of the company's stock worth $1,577,000 after purchasing an additional 32,746 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on YETI shares. Morgan Stanley restated a "cautious" rating on shares of YETI in a research note on Monday, August 11th. Stifel Nicolaus upped their price objective on YETI from $31.00 to $33.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Piper Sandler reduced their price objective on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Cowen restated a "hold" rating on shares of YETI in a research note on Friday, August 8th. Finally, Canaccord Genuity Group upped their price objective on YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.54.

YETI Price Performance

YETI stock traded down $1.30 during mid-day trading on Thursday, hitting $34.89. The company had a trading volume of 1,573,086 shares, compared to its average volume of 2,224,897. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 2.55 and a beta of 1.84. YETI Holdings, Inc. has a 12-month low of $26.61 and a 12-month high of $45.25. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $34.21 and a 200 day moving average price of $32.69.

YETI (NYSE:YETI - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.54 by $0.12. The business had revenue of $445.89 million for 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 quarter in the previous year, the company earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. On average, research analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share 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.