Wedge Capital Management L L P NC Grows Stake in YETI Holdings, Inc. $YETI

Key Points

• Wedge Capital Management L L P NC increased its stake in YETI Holdings by 28.2%, owning 51,952 shares valued at approximately $1.64 million as of the latest reporting period.
• YETI reported a net margin of 9.73% with quarterly earnings of $0.66 per share, exceeding analyst expectations but experiencing a 3.8% decline in revenue year-over-year.
• Brokerage firms have set new price targets for YETI, with Citigroup raising its target price to $44.00 and maintaining a "buy" rating.

Wedge Capital Management L L P NC grew its position in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 28.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,952 shares of the company's stock after purchasing an additional 11,418 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of YETI worth $1,638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of YETI by 109.3% during the second quarter. UMB Bank n.a. now owns 896 shares of the company's stock valued at $28,000 after buying an additional 468 shares during the last quarter. Andrew Hill Investment Advisors Inc. purchased a new stake in shares of YETI during the second quarter valued at $2,070,000. Reinhart Partners LLC. grew its holdings in shares of YETI by 101.6% during the second quarter. Reinhart Partners LLC. now owns 2,142,818 shares of the company's stock valued at $67,542,000 after buying an additional 1,080,072 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of YETI by 11.6% during the second quarter. Aaron Wealth Advisors LLC now owns 9,934 shares of the company's stock valued at $313,000 after buying an additional 1,032 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of YETI by 66.7% during the second quarter. Harbor Capital Advisors Inc. now owns 204,219 shares of the company's stock valued at $6,437,000 after buying an additional 81,720 shares during the last quarter.

YETI Stock Up 1.1%

YETI opened at $34.96 on Tuesday. YETI Holdings, Inc. has a twelve month low of $26.61 and a twelve month high of $45.25. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $35.49 and a 200 day moving average price of $32.49. The company has a market cap of $2.84 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.44 and a beta of 1.86.

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on YETI. Citigroup boosted their price objective on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. UBS Group boosted their price objective on shares of YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Cowen reissued a "hold" rating on shares of YETI in a report on Friday, August 8th. Raymond James Financial reaffirmed an "outperform" rating and issued a $37.00 price target (up from $34.00) on shares of YETI in a report on Friday, August 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of YETI in a report on Tuesday, September 16th. Five analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.54.

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.

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