Victory Capital Management Inc. Reduces Stock Position in YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Victory Capital Management Inc. reduced its holdings in YETI Holdings, Inc. by 4.8% during the first quarter, now owning approximately 0.15% of the company, valued at $4.24 million.
• Analysts have recently upgraded and adjusted their price targets for YETI, with Citigroup raising its target from $36.00 to $44.00 while Stifel Nicolaus lowered it from $40.00 to $34.00.
• In its latest earnings report, YETI beat analyst expectations with an earnings per share of $0.31 and revenue of $351.13 million, reflecting a 2.8% increase compared to the same quarter last year.

Victory Capital Management Inc. cut its stake in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,160 shares of the company's stock after selling 6,438 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of YETI worth $4,242,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in YETI. Aster Capital Management DIFC Ltd bought a new position in YETI during the 4th quarter valued at $44,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of YETI in the fourth quarter worth $45,000. GeoWealth Management LLC bought a new stake in shares of YETI in the fourth quarter valued at approximately $48,000. Headlands Technologies LLC acquired a new stake in shares of YETI during the 4th quarter worth approximately $70,000. Finally, LRI Investments LLC bought a new position in YETI during the first quarter worth about $65,000.

YETI Price Performance

YETI stock traded down $0.69 during midday trading on Wednesday, reaching $37.22. The company had a trading volume of 1,349,674 shares, compared to its average volume of 2,331,198. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 3.27 and a beta of 1.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.58 and a quick ratio of 1.47. YETI Holdings, Inc. has a 1-year low of $26.61 and a 1-year high of $45.25. The stock has a 50 day moving average price of $32.43 and a 200-day moving average price of $33.05.

YETI (NYSE:YETI - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. The company had revenue of $351.13 million during the quarter, compared to the consensus estimate of $347.72 million. YETI had a net margin of 9.59% and a return on equity of 26.48%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. Equities research analysts expect that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on YETI. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price target on shares of YETI in a research report on Monday, May 5th. Morgan Stanley upped their price objective on YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Robert W. Baird dropped their price target on YETI from $50.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. UBS Group upped their price objective on YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reduced their price objective on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $39.47.

About YETI

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.