Ontario Teachers Pension Plan Board Takes Position in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• The Ontario Teachers Pension Plan Board acquired a new stake in YETI Holdings, purchasing 82,617 shares valued at approximately $2.735 million during the first quarter.
• YETI reported earnings of $0.31 per share for the last quarter, exceeding the consensus estimate of $0.27, with revenues of $351.13 million, up 2.8% year-over-year.
• Analysts have a consensus "Hold" rating on YETI stock, with a target price averaging $39.47, with recent ratings adjustments made by Citigroup, Morgan Stanley, and UBS Group.

Ontario Teachers Pension Plan Board purchased a new position in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 82,617 shares of the company's stock, valued at approximately $2,735,000. Ontario Teachers Pension Plan Board owned 0.10% of YETI as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gates Capital Management Inc. acquired a new position in shares of YETI in the fourth quarter worth about $135,356,000. Reinhart Partners LLC. acquired a new position in shares of YETI in the first quarter worth about $35,177,000. Brown Advisory Inc. acquired a new position in shares of YETI in the fourth quarter worth about $40,496,000. Westwood Holdings Group Inc. acquired a new position in shares of YETI in the fourth quarter worth about $37,098,000. Finally, Nomura Holdings Inc. raised its position in shares of YETI by 595.8% in the fourth quarter. Nomura Holdings Inc. now owns 595,154 shares of the company's stock worth $22,919,000 after acquiring an additional 509,616 shares during the period.

Wall Street Analysts Forecast Growth

YETI has been the subject of a number of analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price objective on shares of YETI in a research report on Monday, May 5th. Cowen reiterated a "hold" rating on shares of YETI in a research report on Friday. UBS Group upped their price objective on shares of YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley upped 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. Finally, KeyCorp upgraded shares of YETI from an "underweight" rating to a "sector weight" rating in a research report on Thursday, April 17th. Eleven equities research 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 presently has a consensus rating of "Hold" and a consensus target price of $39.07.

YETI Price Performance

YETI stock traded down $0.01 during mid-day trading on Friday, reaching $32.65. The company's stock had a trading volume of 2,908,088 shares, compared to its average volume of 2,845,910. The stock has a market cap of $2.70 billion, a PE ratio of 15.55, a P/E/G ratio of 2.82 and a beta of 1.84. The company has a current ratio of 2.52, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. YETI Holdings, Inc. has a fifty-two week low of $26.61 and a fifty-two week high of $45.25. The company's 50 day moving average is $33.20 and its two-hundred day moving average is $32.96.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.66 EPS for the quarter, beating 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 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 EPS. Equities research analysts expect that YETI Holdings, Inc. will post 2.57 EPS for the current year.

About YETI

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.