Reinhart Partners LLC. Invests $35.18 Million in YETI Holdings, Inc. (NYSE:YETI)

Reinhart Partners LLC. purchased a new position in YETI Holdings, Inc. (NYSE:YETI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,062,746 shares of the company's stock, valued at approximately $35,177,000. Reinhart Partners LLC. owned 1.28% of YETI at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in YETI by 0.9% during the fourth quarter. Wasatch Advisors LP now owns 5,529,046 shares of the company's stock valued at $212,924,000 after purchasing an additional 51,443 shares during the last quarter. Wellington Management Group LLP lifted its stake in YETI by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 3,560,485 shares of the company's stock valued at $137,114,000 after purchasing an additional 489,063 shares during the last quarter. Gates Capital Management Inc. acquired a new stake in YETI during the fourth quarter valued at approximately $135,356,000. Dimensional Fund Advisors LP lifted its stake in YETI by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,170 shares of the company's stock valued at $57,812,000 after purchasing an additional 22,123 shares during the last quarter. Finally, Congress Asset Management Co. lifted its stake in YETI by 5.6% during the fourth quarter. Congress Asset Management Co. now owns 1,131,060 shares of the company's stock valued at $43,557,000 after purchasing an additional 60,407 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on YETI. Raymond James reduced their price target on shares of YETI from $50.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Canaccord Genuity Group reduced their price target on shares of YETI from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Piper Sandler reduced their price target 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. Morgan Stanley upped their price target on shares of YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Robert W. Baird reduced their price target on shares of YETI from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $39.40.

YETI Stock Up 0.7%

YETI stock opened at $31.60 on Friday. The firm has a market cap of $2.62 billion, a PE ratio of 15.34, a P/E/G ratio of 1.05 and a beta of 1.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 2.18. The firm's 50 day moving average price is $29.65 and its two-hundred day moving average price is $34.94. YETI Holdings, Inc. has a twelve month low of $26.61 and a twelve month high of $45.25.

YETI (NYSE:YETI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, topping 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 company had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. During the same quarter in the prior year, the business posted $0.34 EPS. YETI's quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal 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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