Point72 Asset Management L.P. Sells 483,616 Shares of YETI Holdings, Inc. (NYSE:YETI)

Point72 Asset Management L.P. lessened its stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 63.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,534 shares of the company's stock after selling 483,616 shares during the period. Point72 Asset Management L.P. owned approximately 0.33% of YETI worth $10,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. boosted its stake in shares of YETI by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock worth $1,466,000 after buying an additional 11,391 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in YETI by 1,172.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company's stock valued at $609,000 after purchasing an additional 14,565 shares in the last quarter. Boothbay Fund Management LLC lifted its position in YETI by 983.0% during the fourth quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock valued at $4,659,000 after purchasing an additional 109,803 shares in the last quarter. Truist Financial Corp lifted its position in YETI by 304.2% during the fourth quarter. Truist Financial Corp now owns 28,501 shares of the company's stock valued at $1,098,000 after purchasing an additional 21,450 shares in the last quarter. Finally, Clearbridge Investments LLC purchased a new position in YETI during the fourth quarter valued at $10,767,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on YETI. Morgan Stanley lifted their target price on YETI from $33.00 to $34.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Raymond James reduced their target price on YETI from $50.00 to $34.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Robert W. Baird reduced their target price on YETI from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 target price on shares of YETI in a report on Monday, May 5th. Finally, UBS Group reduced their target price on YETI from $43.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Ten 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 company has an average rating of "Hold" and a consensus price target of $39.40.

YETI Trading Down 5.0%

Shares of YETI traded down $1.57 during mid-day trading on Wednesday, reaching $29.74. 2,384,275 shares of the company's stock traded hands, compared to its average volume of 1,744,569. The stock has a market cap of $2.46 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.05 and a beta of 1.91. The stock's 50-day moving average is $30.46 and its two-hundred day moving average is $35.61. 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 0.10, a current ratio of 2.18 and a quick ratio of 1.36.

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

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.