Envestnet Asset Management Inc. Raises Stock Position in YETI Holdings, Inc. (NYSE:YETI)

Envestnet Asset Management Inc. increased its holdings in shares of YETI Holdings, Inc. (NYSE:YETI) by 44.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 321,065 shares of the company’s stock after purchasing an additional 98,884 shares during the period. Envestnet Asset Management Inc. owned approximately 0.39% of YETI worth $10,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Xponance Inc. increased its holdings in YETI by 2.6% in the fourth quarter. Xponance Inc. now owns 13,250 shares of the company’s stock valued at $510,000 after buying an additional 340 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of YETI by 1.0% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 51,779 shares of the company’s stock valued at $1,994,000 after buying an additional 497 shares in the last quarter. Covestor Ltd lifted its position in shares of YETI by 20.2% during the 4th quarter. Covestor Ltd now owns 3,463 shares of the company’s stock valued at $133,000 after buying an additional 583 shares in the last quarter. Bridge City Capital LLC lifted its position in shares of YETI by 1.3% during the 1st quarter. Bridge City Capital LLC now owns 58,887 shares of the company’s stock valued at $1,949,000 after buying an additional 755 shares in the last quarter. Finally, Portside Wealth Group LLC lifted its position in shares of YETI by 14.5% during the 1st quarter. Portside Wealth Group LLC now owns 6,025 shares of the company’s stock valued at $199,000 after buying an additional 762 shares in the last quarter.

YETI Stock Performance

YETI opened at $34.98 on Monday. The firm has a market capitalization of $2.90 billion, a PE ratio of 16.82, a PEG ratio of 3.02 and a beta of 1.85. YETI Holdings, Inc. has a twelve month low of $26.61 and a twelve month high of $45.25. The firm’s 50-day moving average price is $31.41 and its 200 day moving average price is $32.98. The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09.

YETI (NYSE:YETI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. YETI had a net margin of 9.59% and a return on equity of 26.48%. YETI’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. As a group, sell-side analysts expect that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

YETI has been the subject of a number of research reports. Stifel Nicolaus cut their target price on shares of YETI from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Morgan Stanley boosted their target price on shares of YETI from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Robert W. Baird cut their target price on shares of YETI from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Piper Sandler cut their target price on shares of YETI from $52.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Raymond James Financial cut their target price on shares of YETI from $50.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, YETI currently has a consensus rating of “Hold” and a consensus price target of $39.67.

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.