PDT Partners LLC Sells 18,346 Shares of YETI Holdings, Inc. $YETI

Key Points

• PDT Partners LLC reduced its stake in YETI Holdings, Inc. by 69.7%, selling 18,346 shares and retaining only 7,961 shares valued at approximately $264,000.
• Recent analyst reports show a mixed outlook, with Citigroup increasing its price target to $44.00 and five analysts giving a "Buy" rating, while nine analysts rated it as "Hold."
• YETI reported $0.66 earnings per share for the last quarter, exceeding expectations, but its revenue of $445.89 million fell short of the forecasted $461.73 million.

PDT Partners LLC cut its stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 69.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,961 shares of the company's stock after selling 18,346 shares during the period. PDT Partners LLC's holdings in YETI were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of YETI by 25.0% in the 4th 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. Benjamin Edwards Inc. acquired a new position in YETI during the fourth quarter valued at approximately $471,000. Cetera Investment Advisers grew its stake in YETI by 158.9% in the fourth quarter. Cetera Investment Advisers now owns 20,625 shares of the company's stock valued at $794,000 after purchasing an additional 12,660 shares in the last quarter. Focus Partners Wealth increased its position in shares of YETI by 45.6% during the 4th quarter. Focus Partners Wealth now owns 31,323 shares of the company's stock worth $1,206,000 after purchasing an additional 9,815 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new position in shares of YETI during the 4th quarter worth approximately $2,900,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on YETI from $36.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Canaccord Genuity Group upped their price target on shares of YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Cowen reiterated a "hold" rating on shares of YETI in a research note on Friday, August 8th. Raymond James Financial restated an "outperform" rating and set a $37.00 price objective (up from $34.00) on shares of YETI in a research note on Friday, August 8th. Finally, UBS Group raised their target price on shares of YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, YETI presently has an average rating of "Hold" and an average target price of $38.54.

YETI Stock Performance

NYSE YETI opened at $36.30 on Friday. The stock has a market cap of $2.95 billion, a PE ratio of 17.28, 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. The firm has a 50-day moving average of $34.82 and a 200-day moving average of $32.58. YETI Holdings, Inc. has a 52-week low of $26.61 and a 52-week 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 earnings per share 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 for the quarter, compared to analysts' expectations of $461.73 million. During the same period in the prior year, the firm earned $0.70 EPS. The business's revenue was down 3.8% on a year-over-year basis. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. On average, sell-side analysts anticipate 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.

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