Edgestream Partners L.P. Takes Position in YETI Holdings, Inc. (NYSE:YETI)

Edgestream Partners L.P. acquired a new position in YETI Holdings, Inc. (NYSE:YETI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 129,635 shares of the company's stock, valued at approximately $4,291,000. Edgestream Partners L.P. owned approximately 0.16% of YETI at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its position in YETI by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock worth $1,466,000 after buying an additional 11,391 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of YETI by 1,172.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company's stock worth $609,000 after purchasing an additional 14,565 shares in the last quarter. Boothbay Fund Management LLC increased its position in shares of YETI by 983.0% during the fourth quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock valued at $4,659,000 after purchasing an additional 109,803 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of YETI by 8.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 66,596 shares of the company's stock valued at $2,244,000 after purchasing an additional 5,199 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in YETI in the fourth quarter worth $10,767,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on YETI shares. Piper Sandler dropped their price objective on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Morgan Stanley lifted their price target on shares of YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price objective on shares of YETI in a report on Monday, May 5th. KeyCorp raised YETI from an "underweight" rating to a "sector weight" rating in a report on Thursday, April 17th. Finally, Raymond James Financial dropped their price target on YETI from $50.00 to $34.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $39.67.

YETI Trading Up 4.2%

Shares of YETI traded up $1.41 on Thursday, reaching $35.17. 1,356,901 shares of the company's stock were exchanged, compared to its average volume of 1,843,863. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25. The stock has a market capitalization of $2.91 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.83 and a beta of 1.85. The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $31.16 and a two-hundred day moving average price of $33.10.

YETI (NYSE:YETI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. YETI had a return on equity of 26.48% and a net margin of 9.59%. The business had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. During the same period last year, the company earned $0.34 EPS. The firm's revenue was up 2.8% on a year-over-year basis. Research analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share for the current 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.