Raymond James Financial Inc. Grows Position in YETI Holdings, Inc. $YETI

Key Points

• Raymond James Financial Inc. increased its stake in YETI Holdings by 16.1%, now owning 188,052 shares valued at approximately $6.2 million.
• YETI's stock opened at $34.92, with a market cap of $2.84 billion and a price-to-earnings ratio of 16.63.
• In its latest quarterly earnings, YETI reported $0.66 earnings per share, exceeding estimates of $0.54, but with a 3.8% decrease in revenue year-over-year.

Raymond James Financial Inc. grew its position in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 16.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,052 shares of the company's stock after purchasing an additional 26,019 shares during the quarter. Raymond James Financial Inc. owned approximately 0.23% of YETI worth $6,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in YETI. Gates Capital Management Inc. bought a new position in shares of YETI during the fourth quarter worth $135,356,000. American Century Companies Inc. boosted its position in shares of YETI by 48.9% during the first quarter. American Century Companies Inc. now owns 2,150,724 shares of the company's stock worth $71,189,000 after acquiring an additional 706,601 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of YETI by 7.7% during the first quarter. Congress Asset Management Co. now owns 1,217,966 shares of the company's stock worth $40,315,000 after acquiring an additional 86,906 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of YETI by 23.8% during the first quarter. Westwood Holdings Group Inc. now owns 1,193,043 shares of the company's stock worth $39,490,000 after acquiring an additional 229,709 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of YETI by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,108,913 shares of the company's stock worth $42,704,000 after acquiring an additional 10,673 shares during the last quarter.

YETI Trading Down 0.5%

Shares of YETI stock traded down $0.19 during trading on Tuesday, hitting $35.50. The stock had a trading volume of 212,686 shares, compared to its average volume of 2,122,384. The firm's fifty day simple moving average is $34.90 and its 200-day simple moving average is $32.51. The stock has a market cap of $2.88 billion, a PE ratio of 16.91, a PEG ratio of 2.56 and a beta of 1.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.52 and a quick ratio of 1.48. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25.

YETI (NYSE:YETI - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.12. The firm had revenue of $445.89 million during the quarter, compared to analyst estimates of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. The business's revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. As a group, sell-side analysts expect that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James Financial restated an "outperform" rating and set a $37.00 target price (up previously from $34.00) on shares of YETI in a research report on Friday, August 8th. Cowen reiterated a "hold" rating on shares of YETI in a research report on Friday, August 8th. Canaccord Genuity Group increased their price objective on shares of YETI from $33.00 to $34.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Morgan Stanley reiterated a "cautious" rating on shares of YETI in a research report on Monday, August 11th. Finally, Citigroup increased their price objective on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.54.

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.