Federated Hermes Inc. Reduces Stock Position in YETI Holdings, Inc. (NYSE:YETI)

Federated Hermes Inc. reduced its position in shares of YETI Holdings, Inc. (NYSE:YETI) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 805,565 shares of the company’s stock after selling 107,806 shares during the period. Federated Hermes Inc.’s holdings in YETI were worth $30,732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of YETI during the first quarter valued at approximately $27,000. Versant Capital Management Inc lifted its stake in shares of YETI by 571.8% during the 2nd quarter. Versant Capital Management Inc now owns 833 shares of the company’s stock worth $32,000 after purchasing an additional 709 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of YETI during the first quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of YETI in the second quarter valued at $42,000. Finally, Sachetta LLC acquired a new position in YETI in the fourth quarter valued at $53,000.

YETI Price Performance

YETI stock opened at $39.06 on Friday. The firm has a market cap of $3.31 billion, a P/E ratio of 19.43, a price-to-earnings-growth ratio of 1.14 and a beta of 2.11. 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 1 year low of $33.88 and a 1 year high of $54.15. The stock has a 50-day simple moving average of $39.32 and a 200-day simple moving average of $38.94.

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

Wall Street Analysts Forecast Growth

YETI has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price target on YETI from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Bank of America upgraded shares of YETI from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $55.00 in a report on Thursday, August 8th. Roth Mkm increased their price target 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. Citigroup lowered their price objective on shares of YETI from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, KeyCorp increased their target price on YETI from $36.00 to $38.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, YETI has an average rating of “Hold” and an average target price of $46.43.

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.