Engaged Capital LLC Buys New Position in YETI Holdings, Inc. $YETI

Key Points

• Engaged Capital LLC acquired a stake of 1,543,518 shares in YETI Holdings, Inc., valued at approximately $51 million, making YETI its 4th biggest position.
• YETI's recent earnings report showed an EPS of $0.66, exceeding forecasts, but revenue decreased by 3.8% year-over-year.
• Stock analysts have mixed ratings on YETI, with five giving a "Buy" rating and nine a "Hold," while the average price target is set at $38.54.

Engaged Capital LLC purchased a new stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,543,518 shares of the company's stock, valued at approximately $51,090,000. YETI makes up approximately 13.0% of Engaged Capital LLC's portfolio, making the stock its 4th largest position. Engaged Capital LLC owned 1.86% of YETI at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in YETI. Price T Rowe Associates Inc. MD raised its holdings in YETI by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 60,011 shares of the company's stock valued at $2,312,000 after acquiring an additional 4,255 shares in the last quarter. Northern Trust Corp raised its holdings in YETI by 25.0% in the fourth quarter. Northern Trust Corp now owns 1,003,652 shares of the company's stock valued at $38,651,000 after acquiring an additional 200,443 shares in the last quarter. AQR Capital Management LLC raised its holdings in YETI by 25.1% in the fourth quarter. AQR Capital Management LLC now owns 163,995 shares of the company's stock valued at $6,315,000 after acquiring an additional 32,862 shares in the last quarter. Algert Global LLC raised its holdings in YETI by 36.7% in the fourth quarter. Algert Global LLC now owns 64,991 shares of the company's stock valued at $2,503,000 after acquiring an additional 17,441 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in YETI in the fourth quarter valued at $471,000.

Analysts Set New Price Targets

A number of analysts have weighed in on YETI shares. Cowen reissued a "hold" rating on shares of YETI in a report on Friday, August 8th. Morgan Stanley reissued a "cautious" rating on shares of YETI in a report on Monday, August 11th. Citigroup increased their target price on shares of YETI from $36.00 to $44.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. UBS Group increased their target price on shares of YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Raymond James Financial reissued an "outperform" rating and set a $37.00 target price (up from $34.00) on shares of YETI in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.54.

YETI Stock Performance

Shares of YETI stock traded down $0.70 during trading on Monday, hitting $35.61. 960,238 shares of the stock were exchanged, compared to its average volume of 2,133,866. The stock's fifty day moving average is $34.82 and its 200 day moving average is $32.52. The stock has a market cap of $2.89 billion, a PE ratio of 16.96, a P/E/G ratio of 2.56 and a beta of 1.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.52. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25.

YETI (NYSE:YETI - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. The company's quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 earnings per share. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. As a group, sell-side analysts anticipate that YETI Holdings, Inc. will post 2.57 EPS 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.