Strs Ohio Purchases New Position in YETI Holdings, Inc. $YETI

Key Points

• Strs Ohio made a new investment in YETI Holdings, purchasing 29,125 shares worth approximately $964,000 in the first quarter.
• YETI reported $0.66 earnings per share for the quarter, exceeding analysts' estimates of $0.54, although revenue decreased by 3.8% year-over-year.
• Wall Street analysts have varied ratings for YETI, with a consensus target price of $38.54, reflecting a mix of buy and hold ratings.

Strs Ohio purchased a new position in YETI Holdings, Inc. (NYSE:YETI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,125 shares of the company's stock, valued at approximately $964,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Engaged Capital LLC acquired a new position in YETI during the 1st quarter valued at about $51,090,000. AQR Capital Management LLC raised its holdings in YETI by 780.9% during the first quarter. AQR Capital Management LLC now owns 1,444,617 shares of the company's stock worth $47,752,000 after purchasing an additional 1,280,622 shares in the last quarter. Reinhart Partners LLC. bought a new stake in YETI during the first quarter worth approximately $35,177,000. American Century Companies Inc. lifted its position in YETI by 48.9% in the first quarter. American Century Companies Inc. now owns 2,150,724 shares of the company's stock worth $71,189,000 after purchasing an additional 706,601 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in YETI by 36.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,093,357 shares of the company's stock valued at $36,190,000 after purchasing an additional 289,708 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group reissued a "buy" rating on shares of YETI in a research note on Tuesday, September 16th. UBS Group boosted their price target on shares of YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Stifel Nicolaus raised their price objective on shares of YETI from $31.00 to $33.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Cowen reaffirmed a "hold" rating on shares of YETI in a research note on Friday, August 8th. Finally, Canaccord Genuity Group increased their target price on shares of YETI from $33.00 to $34.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, YETI currently has an average rating of "Hold" and an average price target of $38.54.

YETI Stock Up 1.1%

NYSE:YETI traded up $0.37 during trading hours on Monday, hitting $34.96. 1,677,841 shares of the stock traded hands, compared to its average volume of 1,514,984. The firm has a 50 day moving average price of $35.49 and a 200 day moving average price of $32.49. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.44 and a beta of 1.86. YETI Holdings, Inc. has a fifty-two week low of $26.61 and a fifty-two week high of $45.25. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09.

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