3,514,819 Shares in YETI Holdings, Inc. (NYSE:YETI) Bought by Gates Capital Management Inc.

Gates Capital Management Inc. acquired a new position in YETI Holdings, Inc. (NYSE:YETI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,514,819 shares of the company's stock, valued at approximately $135,356,000. YETI comprises approximately 2.5% of Gates Capital Management Inc.'s investment portfolio, making the stock its 10th largest holding. Gates Capital Management Inc. owned about 4.14% of YETI at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Allworth Financial LP lifted its position in shares of YETI by 237.1% in the 4th quarter. Allworth Financial LP now owns 664 shares of the company's stock worth $25,000 after acquiring an additional 467 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of YETI during the 3rd quarter worth about $38,000. Aster Capital Management DIFC Ltd bought a new position in shares of YETI during the 4th quarter worth approximately $44,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in YETI in the 4th quarter valued at $45,000. Finally, GeoWealth Management LLC bought a new position in shares of YETI during the fourth quarter valued at $48,000.

YETI Price Performance

YETI traded up $0.01 during trading on Thursday, hitting $31.38. 73,281 shares of the company traded hands, compared to its average volume of 1,712,705. The company has a market cap of $2.60 billion, a PE ratio of 15.26, a P/E/G ratio of 1.05 and a beta of 1.91. The stock's 50-day simple moving average is $30.65 and its two-hundred day simple moving average is $35.75. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25. The company has a current ratio of 2.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.04. YETI had a return on equity of 28.23% and a net margin of 9.60%. The firm had revenue of $351.13 million during the quarter, compared to analysts' expectations of $347.72 million. During the same quarter in the previous year, the business earned $0.34 EPS. The company's quarterly revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group dropped their price objective on YETI from $43.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Piper Sandler dropped their target price on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Morgan Stanley upped their target price on shares of YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Canaccord Genuity Group dropped their target price on shares of YETI from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $55.00 target price on shares of YETI in a research report on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.40.

YETI Company 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.