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

Envestnet Asset Management Inc. lifted its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 23.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,525 shares of the company’s stock after acquiring an additional 15,469 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of YETI worth $3,072,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in YETI. Oppenheimer Asset Management Inc. lifted its position in shares of YETI by 54.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 38,643 shares of the company’s stock valued at $1,474,000 after acquiring an additional 13,686 shares in the last quarter. American Century Companies Inc. raised its position in shares of YETI by 311.4% during the second quarter. American Century Companies Inc. now owns 1,967,215 shares of the company’s stock valued at $75,049,000 after buying an additional 1,488,994 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of YETI by 48.4% during the 2nd quarter. Headlands Technologies LLC now owns 2,909 shares of the company’s stock valued at $111,000 after purchasing an additional 949 shares during the last quarter. Van Berkom & Associates Inc. grew its position in shares of YETI by 5.8% during the second quarter. Van Berkom & Associates Inc. now owns 1,918,642 shares of the company’s stock valued at $73,196,000 after purchasing an additional 105,859 shares in the last quarter. Finally, Choreo LLC bought a new stake in shares of YETI in the second quarter worth about $561,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on YETI shares. TD Cowen increased their price target on YETI from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Friday, August 9th. B. Riley upped their price target on shares of YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Roth Mkm lifted their price objective on shares of YETI from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 price target on shares of YETI in a report on Tuesday, July 30th. Finally, Jefferies Financial Group upped their price objective on YETI from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.43.

YETI Stock Performance

Shares of NYSE:YETI opened at $40.59 on Friday. YETI Holdings, Inc. has a one year low of $33.88 and a one year high of $54.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29. The firm’s 50 day simple moving average is $39.67 and its 200-day simple moving average is $38.99. The firm has a market cap of $3.46 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.18 and a beta of 2.11.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $463.50 million for the quarter, compared to the consensus estimate of $452.42 million. YETI had a return on equity of 28.83% and a net margin of 10.66%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. As a group, equities analysts predict that YETI Holdings, Inc. will post 2.35 EPS for the current year.

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.