Bank of New York Mellon Corp Reduces Stock Holdings in YETI Holdings, Inc. (NYSE:YETI)

Bank of New York Mellon Corp reduced its position in YETI Holdings, Inc. (NYSE:YETI) by 56.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 867,948 shares of the company’s stock after selling 1,145,477 shares during the quarter. Bank of New York Mellon Corp’s holdings in YETI were worth $33,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of YETI by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,268,521 shares of the company’s stock valued at $65,687,000 after buying an additional 103,732 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of YETI by 259.4% during the first quarter. SG Americas Securities LLC now owns 21,170 shares of the company’s stock worth $816,000 after acquiring an additional 15,280 shares in the last quarter. Trexquant Investment LP bought a new position in shares of YETI in the fourth quarter worth $8,484,000. Congress Asset Management Co. MA grew its position in shares of YETI by 7.7% in the first quarter. Congress Asset Management Co. MA now owns 790,900 shares of the company’s stock valued at $30,489,000 after purchasing an additional 56,881 shares in the last quarter. Finally, BOKF NA raised its stake in shares of YETI by 12,075.3% during the 1st quarter. BOKF NA now owns 18,263 shares of the company’s stock valued at $701,000 after purchasing an additional 18,113 shares during the period.

Analysts Set New Price Targets

Several research analysts have commented on YETI shares. B. Riley raised their target price on YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Bank of America raised shares of YETI from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $55.00 in a research note on Thursday, August 8th. Canaccord Genuity Group increased their target price on shares of YETI from $40.00 to $42.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Roth Mkm boosted their price target on shares of YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, KeyCorp upped their price target on shares of YETI from $36.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.29.

YETI Stock Down 3.0 %

Shares of YETI stock opened at $39.10 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29. YETI Holdings, Inc. has a 52-week low of $33.88 and a 52-week high of $54.15. The company’s 50 day moving average price is $39.37 and its 200-day moving average price is $39.00. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.22 and a beta of 2.11.

YETI (NYSE:YETI) last announced 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 analyst estimates of $452.42 million. YETI had a net margin of 10.66% and a return on equity of 28.83%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. Equities research analysts forecast 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.