Merit Financial Group LLC Makes New Investment in YETI Holdings, Inc. (NYSE:YETI)

Merit Financial Group LLC acquired a new stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,327 shares of the company's stock, valued at approximately $507,000.

Other large investors have also made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of YETI by 237.1% in the fourth quarter. Allworth Financial LP now owns 664 shares of the company's stock worth $25,000 after acquiring an additional 467 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in YETI in the 4th quarter valued at $44,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in YETI during the 4th quarter worth $45,000. GeoWealth Management LLC acquired a new stake in YETI during the 4th quarter worth $48,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of YETI by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,526 shares of the company's stock worth $59,000 after buying an additional 280 shares in the last quarter.

YETI Trading Down 0.5%

Shares of NYSE:YETI traded down $0.15 during midday trading on Thursday, reaching $31.36. 398,055 shares of the company's stock were exchanged, compared to its average volume of 1,787,232. The firm's 50 day simple moving average is $29.68 and its two-hundred day simple moving average is $34.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 1.05 and a beta of 1.88. YETI Holdings, Inc. has a fifty-two week low of $26.61 and a fifty-two week high of $45.25.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. The business had revenue of $351.13 million for the quarter, compared to the consensus estimate of $347.72 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. The business's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts forecast that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on YETI shares. Morgan Stanley boosted their price target on shares of YETI from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Stifel Nicolaus decreased their target price on shares of YETI from $40.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Canaccord Genuity Group dropped their price target on YETI from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Robert W. Baird cut their price target on YETI from $50.00 to $40.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $55.00 price objective on shares of YETI in a research report on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, YETI presently has a consensus rating of "Hold" and a consensus target price of $39.40.

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.