Pinnacle Associates Ltd. Invests $1.67 Million in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Pinnacle Associates Ltd. invested approximately $1.67 million in YETI Holdings, acquiring 50,300 shares during the first quarter.
• YETI Holdings recently reported a quarterly EPS of $0.31, exceeding analysts' expectations of $0.27, with a revenue of $351.13 million.
• Analysts have mixed views on YETI's stock, with price targets ranging from $29.00 to $55.00, reflecting varied recommendations among major investment firms.

Pinnacle Associates Ltd. bought a new position in YETI Holdings, Inc. (NYSE:YETI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,300 shares of the company's stock, valued at approximately $1,665,000. Pinnacle Associates Ltd. owned 0.06% of YETI as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in YETI by 0.9% in the 4th quarter. Wasatch Advisors LP now owns 5,529,046 shares of the company's stock worth $212,924,000 after acquiring an additional 51,443 shares during the period. Wellington Management Group LLP grew its stake in shares of YETI by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 3,560,485 shares of the company's stock valued at $137,114,000 after buying an additional 489,063 shares during the period. Gates Capital Management Inc. purchased a new stake in shares of YETI during the 4th quarter valued at $135,356,000. Dimensional Fund Advisors LP grew its stake in shares of YETI by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,170 shares of the company's stock valued at $57,812,000 after buying an additional 22,123 shares during the period. Finally, Congress Asset Management Co. grew its stake in shares of YETI by 7.7% during the 1st quarter. Congress Asset Management Co. now owns 1,217,966 shares of the company's stock valued at $40,315,000 after buying an additional 86,906 shares during the period.

YETI Stock Performance

Shares of YETI stock opened at $38.86 on Friday. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 1.47. The firm has a market capitalization of $3.22 billion, a P/E ratio of 18.68, a P/E/G ratio of 3.35 and a beta of 1.85. The company's fifty day moving average price is $32.01 and its two-hundred day moving average price is $33.01.

YETI (NYSE:YETI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. YETI had a net margin of 9.59% and a return on equity of 26.48%. The firm had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. During the same quarter in the previous year, the business posted $0.34 EPS. The firm's revenue was up 2.8% compared to the same quarter last year. On average, research analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and set a $55.00 price objective on shares of YETI in a research note on Monday, May 5th. The Goldman Sachs Group lowered their price objective on shares of YETI from $41.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley boosted their price objective on shares of YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Citigroup boosted their price objective on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Piper Sandler lowered their price objective on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, YETI currently has an average rating of "Hold" and an average target price of $39.47.

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.

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