Algert Global LLC Cuts Stock Holdings in YETI Holdings, Inc. $YETI

Key Points

• Algert Global LLC reduced its holdings in YETI Holdings, Inc. by 37.6% in the first quarter, currently owning 40,531 shares valued at $1.34 million.
• Multiple institutional investors, including Gates Capital Management and American Century Companies, have recently acquired or increased their stakes in YETI, indicating growing interest in the stock.
• YETI reported a Q2 earnings beat with an EPS of $0.66, exceeding estimates by $0.12, but revenues fell by 3.8% year-over-year to $445.89 million.

Algert Global LLC cut its stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,531 shares of the company's stock after selling 24,460 shares during the quarter. Algert Global LLC's holdings in YETI were worth $1,342,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pinebridge Investments L.P. raised its position in shares of YETI by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock valued at $1,466,000 after buying an additional 11,391 shares in the last quarter. Tower Research Capital LLC TRC raised its position 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 acquiring an additional 14,565 shares in the last quarter. Homestead Advisers Corp boosted its stake in YETI by 15.2% during the first quarter. Homestead Advisers Corp now owns 95,300 shares of the company's stock worth $3,154,000 after acquiring an additional 12,600 shares in the last quarter. Boothbay Fund Management LLC grew its holdings in shares of YETI by 983.0% during the fourth quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock valued at $4,659,000 after buying an additional 109,803 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of YETI by 44.5% during the first quarter. Envestnet Asset Management Inc. now owns 321,065 shares of the company's stock valued at $10,627,000 after buying an additional 98,884 shares during the last quarter.

YETI Trading Up 1.0%

Shares of YETI stock traded up $0.37 during trading on Wednesday, hitting $36.14. The stock had a trading volume of 965,587 shares, compared to its average volume of 2,150,574. The firm's fifty day simple moving average is $33.96 and its 200-day simple moving average is $32.67. The stock has a market cap of $2.93 billion, a PE ratio of 17.19, a PEG ratio of 2.51 and a beta of 1.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.52 and a quick ratio of 1.48. YETI Holdings, Inc. has a 12 month low of $26.61 and a 12 month high of $45.25.

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

Analyst Upgrades and Downgrades

YETI has been the topic of several recent research reports. UBS Group increased their price target 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. Morgan Stanley reissued a "cautious" rating on shares of YETI in a research note on Monday, August 11th. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of YETI in a research note on Monday, May 5th. Canaccord Genuity Group increased their price objective on shares of YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Citigroup raised their target price on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $38.54.

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.