Tenzing Global Management LLC Cuts Stock Holdings in YETI Holdings, Inc. $YETI

Key Points

• Tenzing Global Management LLC has significantly reduced its stake in YETI Holdings, Inc. by 87.2%, selling 170,000 shares during the first quarter to hold only 25,000 shares, valued at approximately $828,000 at the end of the period.
• YETI's recent quarterly earnings showed earnings per share (EPS) of $0.66, exceeding analysts' estimates, but its revenue of $445.89 million fell short of expectations, marking a 3.8% year-over-year decline.
• Analysts have mixed views on YETI's stock, with targets ranging from $31.00 to $44.00 and a consensus rating of "Hold," amidst fluctuations in institutional investment activity.

Tenzing Global Management LLC lowered its stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 87.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company's stock after selling 170,000 shares during the period. YETI accounts for 0.6% of Tenzing Global Management LLC's holdings, making the stock its 21st biggest position. Tenzing Global Management LLC's holdings in YETI were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of YETI. Homestead Advisers Corp boosted its stake in shares of YETI by 15.2% during the 1st quarter. Homestead Advisers Corp now owns 95,300 shares of the company's stock worth $3,154,000 after acquiring an additional 12,600 shares during the period. Jump Financial LLC grew its stake in YETI by 66.8% in the 1st quarter. Jump Financial LLC now owns 36,061 shares of the company's stock valued at $1,194,000 after buying an additional 14,437 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in YETI by 44.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 321,065 shares of the company's stock valued at $10,627,000 after acquiring an additional 98,884 shares during the period. Allspring Global Investments Holdings LLC lifted its position in YETI by 8.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 66,596 shares of the company's stock worth $2,244,000 after acquiring an additional 5,199 shares during the last quarter. Finally, Inspire Advisors LLC bought a new stake in shares of YETI during the first quarter worth approximately $628,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on YETI. Cowen reaffirmed a "hold" rating on shares of YETI in a research report on Friday, August 8th. Raymond James Financial reiterated an "outperform" rating and issued a $37.00 price target (up from $34.00) on shares of YETI in a research report on Friday, August 8th. Citigroup lifted their price objective on YETI from $36.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Canaccord Genuity Group raised their price target on YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Finally, Stifel Nicolaus upped their price objective on shares of YETI from $31.00 to $33.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $38.54.

YETI Price Performance

Shares of YETI traded down $0.22 during trading hours on Wednesday, reaching $35.39. The stock had a trading volume of 1,408,972 shares, compared to its average volume of 2,124,055. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.52. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25. The stock has a market capitalization of $2.87 billion, a PE ratio of 16.85, a PEG ratio of 2.52 and a beta of 1.86. The company's 50-day moving average is $34.96 and its two-hundred day moving average is $32.53.

YETI (NYSE:YETI - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. Research analysts expect that YETI Holdings, Inc. will post 2.57 EPS for the current year.

YETI 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.