Canada Pension Plan Investment Board Boosts Position in YETI Holdings, Inc. (NYSE:YETI)

Canada Pension Plan Investment Board lifted its position in shares of YETI Holdings, Inc. (NYSE:YETI) by 33.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,400 shares of the company’s stock after purchasing an additional 26,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.12% of YETI worth $3,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in YETI. Crewe Advisors LLC acquired a new stake in shares of YETI during the 1st quarter worth approximately $27,000. Versant Capital Management Inc grew 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 1st quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of YETI during the 2nd quarter worth approximately $42,000. Finally, Headlands Technologies LLC acquired a new stake in shares of YETI during the 1st quarter worth approximately $76,000.

YETI Trading Down 1.0 %

Shares of YETI opened at $38.70 on Thursday. YETI Holdings, Inc. has a 52-week low of $33.88 and a 52-week high of $54.15. The company has a quick ratio of 1.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $39.40 and its two-hundred day moving average is $38.89. The stock has a market cap of $3.28 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.13 and a beta of 2.11.

YETI (NYSE:YETI) last announced its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter in the previous year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Research analysts forecast that YETI Holdings, Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on YETI shares. Bank of America raised shares of YETI from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $55.00 in a research note on Thursday, August 8th. TD Cowen lifted their price target on shares of YETI from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Jefferies Financial Group lifted their price target on shares of YETI from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Roth Mkm lifted their price target on shares of YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Piper Sandler reissued an “overweight” rating and issued a $54.00 price target on shares of YETI in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.