Sumitomo Life Insurance Co. Sells 18,786 Shares of YETI Holdings, Inc. (NYSE:YETI)

Sumitomo Life Insurance Co. reduced its holdings in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 51.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,627 shares of the company's stock after selling 18,786 shares during the period. Sumitomo Life Insurance Co.'s holdings in YETI were worth $583,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of YETI. Aster Capital Management DIFC Ltd bought a new position in shares of YETI in the fourth quarter worth approximately $44,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of YETI in the fourth quarter worth approximately $45,000. GeoWealth Management LLC bought a new position in shares of YETI in the fourth quarter worth approximately $48,000. Jones Financial Companies Lllp grew its holdings in shares of YETI by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,526 shares of the company's stock worth $59,000 after purchasing an additional 280 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of YETI in the first quarter worth approximately $65,000.

YETI Stock Down 0.6%

YETI stock traded down $0.21 on Friday, hitting $34.89. 1,063,290 shares of the stock traded hands, compared to its average volume of 1,849,005. The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.89 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 2.91 and a beta of 1.85. The business's fifty day simple moving average is $31.27 and its 200 day simple moving average is $33.07. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25.

YETI (NYSE:YETI - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The business had revenue of $351.13 million during the quarter, compared to analyst estimates of $347.72 million. YETI had a return on equity of 26.48% and a net margin of 9.59%. The company's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, sell-side analysts forecast that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on YETI shares. UBS Group raised their target price on shares of YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday. Stifel Nicolaus dropped their price target on YETI from $40.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Piper Sandler dropped their price target on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Raymond James Financial dropped their price target on YETI from $50.00 to $34.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Finally, KeyCorp raised YETI from an "underweight" rating to a "sector weight" rating in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.67.

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.