Westwood Holdings Group Inc. Raises Holdings in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Westwood Holdings Group Inc. increased its stake in YETI Holdings, Inc. by 23.8%, owning approximately 1.44% of the company worth $39.49 million.
• Several institutional investors, including Pinebridge Investments and Tower Research Capital, also significantly raised their holdings in YETI during the last quarter, with increases of 42.7% and 1,172.7% respectively.
• YETI Holdings reported earnings of $0.31 per share in its latest quarter, surpassing the consensus estimate of $0.27, with revenue growing 2.8% year-over-year.

Westwood Holdings Group Inc. raised its holdings in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,193,043 shares of the company's stock after purchasing an additional 229,709 shares during the period. Westwood Holdings Group Inc. owned approximately 1.44% of YETI worth $39,490,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. boosted its stake in shares of YETI by 42.7% in the 4th quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock worth $1,466,000 after buying an additional 11,391 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of YETI by 1,172.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company's stock worth $609,000 after buying an additional 14,565 shares during the last quarter. Homestead Advisers Corp raised its holdings in YETI by 15.2% in the 1st quarter. Homestead Advisers Corp now owns 95,300 shares of the company's stock worth $3,154,000 after purchasing an additional 12,600 shares during the period. Boothbay Fund Management LLC raised its holdings in YETI by 983.0% in the 4th quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock worth $4,659,000 after purchasing an additional 109,803 shares during the period. Finally, 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 worth $10,627,000 after purchasing an additional 98,884 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on YETI shares. Jefferies Financial Group reissued a "buy" rating and set a $55.00 price target on shares of YETI in a report on Monday, May 5th. UBS Group raised their price target on YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Robert W. Baird decreased their price target on YETI from $50.00 to $40.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Morgan Stanley raised their price target on YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Citigroup raised their price target on YETI from $36.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $39.47.

YETI Trading Up 0.2%

YETI opened at $37.10 on Wednesday. The firm has a market cap of $3.07 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.19 and a beta of 1.84. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25. 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 stock has a 50-day moving average of $32.98 and a 200 day moving average of $33.00.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. The company 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 firm's revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. As a group, research analysts forecast 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.

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