Empower Advisory Group LLC Cuts Stock Holdings in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Empower Advisory Group LLC significantly reduced its stake in YETI Holdings, Inc. by 97.6%, selling 323,892 shares and holding only 7,914 shares, valued at $262,000.
• Brokerage firms have varied opinions on YETI, with analysts from Stifel Nicolaus and Goldman Sachs lowering their price targets to $34.00 and $29.00 respectively, while Citigroup increased its target to $44.00.
• YETI Holdings reported $0.31 EPS for the last quarter, surpassing expectations, and achieved a revenue growth of 2.8% year-over-year, totaling $351.13 million.

Empower Advisory Group LLC lessened its holdings in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 97.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,914 shares of the company's stock after selling 323,892 shares during the quarter. Empower Advisory Group LLC's holdings in YETI were worth $262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LPL Financial LLC raised its holdings in YETI by 29.8% in the 4th quarter. LPL Financial LLC now owns 35,425 shares of the company's stock valued at $1,364,000 after buying an additional 8,141 shares during the period. JPMorgan Chase & Co. increased its stake in YETI by 30.3% during the fourth quarter. JPMorgan Chase & Co. now owns 569,184 shares of the company's stock worth $21,919,000 after purchasing an additional 132,374 shares during the period. Pictet Asset Management Holding SA increased its stake in YETI by 16.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,740 shares of the company's stock worth $491,000 after purchasing an additional 1,801 shares during the period. Franklin Resources Inc. increased its stake in YETI by 81.9% during the fourth quarter. Franklin Resources Inc. now owns 27,760 shares of the company's stock worth $1,069,000 after purchasing an additional 12,498 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in YETI by 196.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 222,181 shares of the company's stock worth $8,556,000 after purchasing an additional 147,138 shares during the period.

Analyst Upgrades and Downgrades

YETI has been the subject of a number of research analyst reports. Piper Sandler lowered their price target on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Cowen reiterated a "hold" rating on shares of YETI in a research note on Friday. Stifel Nicolaus boosted their price objective on YETI from $31.00 to $33.00 and gave the company a "hold" rating in a research note on Friday. Canaccord Genuity Group boosted their price objective on YETI from $33.00 to $34.00 and gave the company a "hold" rating in a research note on Friday. Finally, Robert W. Baird reduced their price objective on YETI from $50.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $39.07.

YETI Price Performance

Shares of NYSE YETI traded down $0.01 during mid-day trading on Friday, reaching $32.65. 2,908,088 shares of the company were exchanged, compared to its average volume of 2,845,910. YETI Holdings, Inc. has a 52 week low of $26.61 and a 52 week high of $45.25. The company has a quick ratio of 1.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.70 billion, a PE ratio of 15.55, a PEG ratio of 2.82 and a beta of 1.84. The company's 50 day moving average price is $33.20 and its 200 day moving average price is $32.92.

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, 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 during the quarter, compared to the consensus estimate of $461.73 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The company's quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts forecast that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal 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.