Equitable Trust Co. Sells 10,822 Shares of YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Equitable Trust Co. has significantly reduced its stake in YETI Holdings by 46.1%, now holding 12,655 shares valued at $419,000 as of the end of the first quarter.
• YETI's earnings report for the latest quarter showed an earnings per share of $0.31, surpassing analysts' estimate of $0.27, with revenue reaching $351.13 million.
• Several analysts have downgraded their price targets for YETI, with Raymond James lowering it from $50.00 to $34.00, reflecting a cautious outlook on the stock.

Equitable Trust Co. reduced its stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 46.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,655 shares of the company's stock after selling 10,822 shares during the quarter. Equitable Trust Co.'s holdings in YETI were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mystic Asset Management Inc. boosted its holdings in shares of YETI by 2.0% during the first quarter. Mystic Asset Management Inc. now owns 19,278 shares of the company's stock worth $638,000 after purchasing an additional 375 shares during the period. Azzad Asset Management Inc. ADV raised its position in YETI by 1.0% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 51,779 shares of the company's stock valued at $1,994,000 after purchasing an additional 497 shares during the last quarter. Assetmark Inc. lifted its holdings in YETI by 9.7% in the 1st quarter. Assetmark Inc. now owns 6,421 shares of the company's stock worth $213,000 after buying an additional 568 shares during the period. Covestor Ltd grew its position in shares of YETI by 20.2% in the 4th quarter. Covestor Ltd now owns 3,463 shares of the company's stock worth $133,000 after buying an additional 583 shares during the last quarter. Finally, Bridge City Capital LLC raised its position in shares of YETI by 1.3% in the 1st quarter. Bridge City Capital LLC now owns 58,887 shares of the company's stock worth $1,949,000 after acquiring an additional 755 shares in the last quarter.

YETI Stock Performance

Shares of NYSE YETI traded down $0.15 during midday trading on Wednesday, hitting $37.77. 224,361 shares of the company's stock traded hands, compared to its average volume of 2,136,613. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.47 and a current ratio of 2.58. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 3.33 and a beta of 1.85. The firm has a fifty day moving average of $32.28 and a 200 day moving average of $33.02.

YETI (NYSE:YETI - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $351.13 million for the quarter, compared to the consensus estimate of $347.72 million. YETI had a return on equity of 26.48% and a net margin of 9.59%. YETI's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. On average, analysts forecast that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on YETI. UBS Group lifted their price target on YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Citigroup upped their target price on shares of YETI from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. KeyCorp raised shares of YETI from an "underweight" rating to a "sector weight" rating in a research report on Thursday, April 17th. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price objective on shares of YETI in a report on Monday, May 5th. Finally, Stifel Nicolaus dropped their target price on shares of YETI from $40.00 to $34.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $39.47.

YETI Company 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.