Northern Trust Corp Sells 24,993 Shares of YETI Holdings, Inc. $YETI

Key Points

• Northern Trust Corp reduced its stake in YETI Holdings by 2.5%, owning 978,659 shares worth approximately $32.39 million after selling 24,993 shares in Q1.
• YETI reported $0.66 earnings per share for its last quarter, surpassing estimates, but its revenue was down 3.8% year-over-year.
• The company's stock has a market cap of $2.85 billion and a current price-to-earnings ratio of 16.74.

Northern Trust Corp lessened its holdings in YETI Holdings, Inc. (NYSE:YETI - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 978,659 shares of the company's stock after selling 24,993 shares during the quarter. Northern Trust Corp owned about 1.18% of YETI worth $32,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gates Capital Management Inc. purchased a new stake in YETI in the fourth quarter worth about $135,356,000. American Century Companies Inc. grew its holdings in shares of YETI by 48.9% during the first quarter. American Century Companies Inc. now owns 2,150,724 shares of the company's stock valued at $71,189,000 after buying an additional 706,601 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of YETI by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,170 shares of the company's stock valued at $57,812,000 after buying an additional 22,123 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of YETI by 7.7% during the first quarter. Congress Asset Management Co. now owns 1,217,966 shares of the company's stock valued at $40,315,000 after buying an additional 86,906 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in shares of YETI by 23.8% during the first quarter. Westwood Holdings Group Inc. now owns 1,193,043 shares of the company's stock valued at $39,490,000 after buying an additional 229,709 shares during the last quarter.

YETI Stock Performance

YETI stock traded down $0.47 during midday trading on Tuesday, reaching $34.69. 1,684,172 shares of the company traded hands, compared to its average volume of 2,149,888. 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. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 2.48 and a beta of 1.86. The business has a 50 day moving average of $34.42 and a two-hundred day moving average of $32.58.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings results 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 business had revenue of $445.89 million for the quarter, compared to the consensus estimate of $461.73 million. During the same period last year, the firm earned $0.70 earnings per share. The company's quarterly revenue was down 3.8% on a year-over-year basis. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. As a group, research analysts predict that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Wall Street Analyst Weigh In

YETI has been the topic of a number of recent analyst reports. Cowen reiterated a "hold" rating on shares of YETI in a report on Friday, August 8th. Stifel Nicolaus increased their price target on shares of YETI from $31.00 to $33.00 and gave the company a "hold" rating in a report on Friday, August 8th. UBS Group increased their price target on shares of YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Citigroup increased their price target on shares of YETI from $36.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler lowered their price objective on shares of YETI from $52.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, YETI currently has an average rating of "Hold" and a consensus price target 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.