Connor Clark & Lunn Investment Management Ltd. Purchases 95,311 Shares of YETI Holdings, Inc. (NYSE:YETI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in YETI Holdings by 96.2% in Q1, now owning 194,404 shares valued at approximately $6.4 million.
• Recent analyst ratings show optimism for YETI, with KeyCorp upgrading their rating and UBS Group raising the price target from $31 to $35, indicating a consensus "Hold" rating among analysts.
• YETI reported $0.66 earnings per share for its last quarter, surpassing forecasts, although its revenue decreased 3.8% year-over-year.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of YETI Holdings, Inc. (NYSE:YETI - Free Report) by 96.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,404 shares of the company's stock after purchasing an additional 95,311 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of YETI worth $6,435,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in YETI. Costello Asset Management INC acquired a new position in shares of YETI in the first quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of YETI in the first quarter worth $34,000. GeoWealth Management LLC acquired a new position in shares of YETI in the fourth quarter worth $48,000. LRI Investments LLC acquired a new position in shares of YETI in the first quarter worth $65,000. Finally, Sterling Capital Management LLC increased its stake in shares of YETI by 45.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,993 shares of the company's stock worth $154,000 after acquiring an additional 1,252 shares during the last quarter.

YETI Stock Performance

YETI stock traded down $1.43 during mid-day trading on Thursday, reaching $33.93. 1,659,659 shares of the stock traded hands, compared to its average volume of 2,901,293. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.09. YETI Holdings, Inc. has a 52 week low of $26.61 and a 52 week high of $45.25. The business has a 50-day moving average of $33.39 and a two-hundred day moving average of $32.84. The firm has a market capitalization of $2.76 billion, a PE ratio of 16.16, a P/E/G ratio of 2.87 and a beta of 1.84.

YETI (NYSE:YETI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $445.89 million during the quarter, compared to analyst estimates of $461.73 million. During the same quarter last year, the business posted $0.70 earnings per share. The company's revenue was down 3.8% on a year-over-year basis. As a group, equities analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $37.00 price target (up from $34.00) on shares of YETI in a research note on Friday, August 8th. KeyCorp raised shares of YETI from an "underweight" rating to a "sector weight" rating in a research note on Thursday, April 17th. Stifel Nicolaus upped their price target on shares of YETI from $31.00 to $33.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Cowen reissued a "hold" rating on shares of YETI in a research report on Friday, August 8th. Finally, UBS Group increased their target price on shares of YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.54.

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.