Van Berkom & Associates Inc. Reduces Stake in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Van Berkom & Associates Inc. reduced its stake in YETI Holdings by 1.7%, selling 31,967 shares and now owning 1,817,704 shares, which represents 1.9% of their investment portfolio.
• Analysts have upgraded their price targets for YETI, with Citigroup raising it from $36.00 to $44.00 and giving it a "buy" rating, while the average consensus target price is $39.47.
• YETI Holdings reported earnings of $0.31 per share for its latest quarter, exceeding analysts' expectations, with revenue of $351.13 million, up 2.8% year-over-year.

Van Berkom & Associates Inc. decreased its holdings in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 1.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,817,704 shares of the company's stock after selling 31,967 shares during the period. YETI accounts for about 1.9% of Van Berkom & Associates Inc.'s holdings, making the stock its 29th largest holding. Van Berkom & Associates Inc. owned about 2.20% of YETI worth $60,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinebridge Investments L.P. raised its position in YETI by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock valued at $1,466,000 after purchasing an additional 11,391 shares during the last quarter. Tower Research Capital LLC TRC raised its position in YETI by 1,172.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company's stock valued at $609,000 after purchasing an additional 14,565 shares during the last quarter. Homestead Advisers Corp raised its position in YETI by 15.2% during the 1st quarter. Homestead Advisers Corp now owns 95,300 shares of the company's stock valued at $3,154,000 after purchasing an additional 12,600 shares during the last quarter. Boothbay Fund Management LLC raised its position in YETI by 983.0% during the 4th quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock valued at $4,659,000 after purchasing an additional 109,803 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in YETI by 44.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 321,065 shares of the company's stock valued at $10,627,000 after purchasing an additional 98,884 shares during the last quarter.

YETI Stock Performance

YETI stock traded up $0.13 during trading on Wednesday, reaching $38.04. The company had a trading volume of 355,674 shares, compared to its average volume of 2,137,539. YETI Holdings, Inc. has a 52 week low of $26.61 and a 52 week high of $45.25. The firm's 50-day simple moving average is $32.28 and its 200 day simple moving average is $33.02. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 3.33 and a beta of 1.85. The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09.

YETI (NYSE:YETI - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. The company had revenue of $351.13 million for the quarter, compared to analysts' expectations of $347.72 million. YETI had a return on equity of 26.48% and a net margin of 9.59%. YETI's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. Sell-side analysts forecast that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on YETI from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Piper Sandler decreased their target price on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. KeyCorp raised YETI from an "underweight" rating to a "sector weight" rating in a research report on Thursday, April 17th. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 target price on shares of YETI in a research report on Monday, May 5th. Finally, The Goldman Sachs Group decreased their target price on YETI from $41.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $39.47.

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.