Dark Forest Capital Management LP Takes $3.49 Million Position in YETI Holdings, Inc. $YETI

Key Points

• Dark Forest Capital Management LP has acquired a new position in YETI Holdings, purchasing 105,496 shares valued at approximately $3.49 million.
• YETI's recent earnings report indicated an EPS of $0.66, exceeding analysts' expectations of $0.54, although revenue saw a 3.8% decline year-over-year.
• Analyst ratings for YETI vary, with a consensus rating of Hold and an average target price of $38.54, including optimistic price targets from Citigroup and Raymond James.

Dark Forest Capital Management LP purchased a new position in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 105,496 shares of the company's stock, valued at approximately $3,492,000. Dark Forest Capital Management LP owned 0.13% of YETI at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. boosted its position in shares of YETI by 2.0% during the first quarter. Mystic Asset Management Inc. now owns 19,278 shares of the company's stock valued at $638,000 after buying an additional 375 shares during the period. Hsbc Holdings PLC lifted its stake in shares of YETI by 2.5% during the 1st quarter. Hsbc Holdings PLC now owns 19,429 shares of the company's stock worth $638,000 after acquiring an additional 483 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in YETI by 1.0% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 51,779 shares of the company's stock valued at $1,994,000 after acquiring an additional 497 shares during the period. Assetmark Inc. boosted its holdings in YETI by 9.7% during the 1st quarter. Assetmark Inc. now owns 6,421 shares of the company's stock valued at $213,000 after acquiring an additional 568 shares during the period. Finally, Costello Asset Management INC bought a new position in YETI in the 1st quarter valued at $25,000.

YETI Price Performance

Shares of YETI opened at $34.69 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.52. The company has a 50 day moving average price of $34.50 and a 200-day moving average price of $32.59. YETI Holdings, Inc. has a fifty-two week low of $26.61 and a fifty-two week high of $45.25. The stock has a market capitalization of $2.82 billion, a PE ratio of 16.52, a PEG ratio of 2.48 and a beta of 1.86.

YETI (NYSE:YETI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.12. The company had revenue of $445.89 million during the quarter, compared to the consensus estimate of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. YETI's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. Equities analysts predict that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on YETI. UBS Group lifted their target price 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 issued a $37.00 price target (up previously from $34.00) on shares of YETI in a research note on Friday, August 8th. Citigroup boosted their price objective on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley restated a "cautious" rating on shares of YETI in a research note on Monday, August 11th. Finally, Stifel Nicolaus lifted their price target on shares of YETI from $31.00 to $33.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, YETI has an average rating of "Hold" and an average target price of $38.54.

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.

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