Pallas Capital Advisors LLC Invests $556,000 in YETI Holdings, Inc. (NYSE:YETI)

Pallas Capital Advisors LLC purchased a new position in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 16,806 shares of the company's stock, valued at approximately $556,000.

Several other large investors have also added to or reduced their stakes in YETI. Gates Capital Management Inc. acquired a new position in shares of YETI during the 4th quarter worth about $135,356,000. Reinhart Partners LLC. bought a new stake in shares of YETI during the 1st quarter valued at $35,177,000. Brown Advisory Inc. acquired a new stake in YETI during the fourth quarter worth about $40,496,000. Westwood Holdings Group Inc. acquired a new stake in shares of YETI during the 4th quarter worth approximately $37,098,000. Finally, Norges Bank bought a new position in shares of YETI in the 4th quarter valued at $36,778,000.

YETI Trading Down 0.3%

Shares of YETI traded down $0.11 during midday trading on Thursday, hitting $31.40. The stock had a trading volume of 1,334,276 shares, compared to its average volume of 1,793,067. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25. 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's 50 day moving average is $29.68 and its 200 day moving average is $34.81. The firm has a market cap of $2.60 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.05 and a beta of 1.88.

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

Analysts Set New Price Targets

YETI has been the topic of several recent research reports. Stifel Nicolaus cut their target price on shares of YETI from $40.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Piper Sandler reduced their price objective on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of YETI in a research note on Monday, May 5th. Morgan Stanley lifted their price objective 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. Finally, KeyCorp upgraded YETI from an "underweight" rating to a "sector weight" rating in a research note on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $39.40.

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.