YETI Holdings, Inc. $YETI Holdings Raised by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in YETI Holdings, Inc. by 3.0% during the first quarter, owning 4.43% of the company worth approximately $121.4 million.
• YETI reported Q2 earnings of $0.66 per share, exceeding analysts' expectations, despite a year-over-year revenue decline of 3.8% to $445.89 million.
• Analysts are optimistic about YETI, with Citigroup raising its price target to $44.00 and five analysts giving a "Buy" rating while nine others rated it as "Hold."

Wellington Management Group LLP lifted its stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 3.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,668,128 shares of the company's stock after purchasing an additional 107,643 shares during the quarter. Wellington Management Group LLP owned 4.43% of YETI worth $121,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versor Investments LP purchased a new stake in YETI during the first quarter valued at about $228,000. Corient IA LLC acquired a new stake in shares of YETI during the first quarter valued at approximately $248,000. Raymond James Financial Inc. raised its holdings in shares of YETI by 16.1% during the first quarter. Raymond James Financial Inc. now owns 188,052 shares of the company's stock valued at $6,225,000 after acquiring an additional 26,019 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of YETI in the 1st quarter valued at approximately $287,000. Finally, American Century Companies Inc. boosted its stake in YETI by 48.9% in the 1st quarter. American Century Companies Inc. now owns 2,150,724 shares of the company's stock worth $71,189,000 after purchasing an additional 706,601 shares during the period.

Wall Street Analyst Weigh In

Several research firms have weighed in on YETI. Citigroup lifted their price objective 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. Stifel Nicolaus lifted their price target on YETI from $31.00 to $33.00 and gave the company a "hold" rating in a report on Friday, August 8th. Raymond James Financial reissued an "outperform" rating and set a $37.00 price target (up from $34.00) on shares of YETI in a research report on Friday, August 8th. Piper Sandler decreased their price objective on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, Cowen reiterated a "hold" rating on shares of YETI in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $38.54.

YETI Price Performance

YETI opened at $33.9050 on Friday. The stock has a fifty day moving average price of $33.62 and a 200 day moving average price of $32.73. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.41 and a beta of 1.84.

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

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.

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