Bank of America Corp DE Cuts Stock Position in YETI Holdings, Inc. (NYSE:YETI)

Bank of America Corp DE lessened its position in shares of YETI Holdings, Inc. (NYSE:YETI) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 660,755 shares of the company’s stock after selling 101,921 shares during the quarter. Bank of America Corp DE owned about 0.78% of YETI worth $25,446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of YETI. Pinebridge Investments L.P. increased its holdings in shares of YETI by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company’s stock valued at $1,466,000 after acquiring an additional 11,391 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in YETI by 1,172.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company’s stock valued at $609,000 after purchasing an additional 14,565 shares in the last quarter. Boothbay Fund Management LLC increased its stake in YETI by 983.0% during the 4th quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company’s stock valued at $4,659,000 after purchasing an additional 109,803 shares in the last quarter. Truist Financial Corp raised its holdings in shares of YETI by 304.2% in the fourth quarter. Truist Financial Corp now owns 28,501 shares of the company’s stock worth $1,098,000 after buying an additional 21,450 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of YETI during the fourth quarter worth $10,767,000.

YETI Stock Performance

Shares of NYSE YETI opened at $32.14 on Monday. The company has a market capitalization of $2.66 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 2.18. The company’s fifty day moving average price is $30.56 and its 200 day moving average price is $35.71. YETI Holdings, Inc. has a 1 year low of $26.61 and a 1 year high of $45.25.

YETI (NYSE:YETI) last posted its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. YETI had a net margin of 9.60% and a return on equity of 28.23%. The business had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, research analysts predict that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

YETI has been the subject of a number of research analyst reports. Raymond James reduced their target price on YETI from $50.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Stifel Nicolaus cut their price objective on YETI from $40.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Morgan Stanley lifted their target price on YETI from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of YETI in a research report on Monday, May 5th. Finally, Piper Sandler reduced their price target 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. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, YETI has an average rating of “Hold” and a consensus price target of $39.40.

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.