Shellback Capital LP Purchases New Position in YETI Holdings, Inc. (NYSE:YETI)

Shellback Capital LP purchased a new stake in YETI Holdings, Inc. (NYSE:YETI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,800 shares of the company’s stock, valued at approximately $2,472,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in YETI during the fourth quarter worth $46,686,000. Corient Private Wealth LLC raised its position in shares of YETI by 140.8% in the fourth quarter. Corient Private Wealth LLC now owns 48,472 shares of the company’s stock worth $2,510,000 after acquiring an additional 28,344 shares during the period. Assetmark Inc. boosted its stake in shares of YETI by 63.1% during the 4th quarter. Assetmark Inc. now owns 2,873 shares of the company’s stock worth $149,000 after acquiring an additional 1,112 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of YETI during the 4th quarter valued at about $223,000. Finally, Treasurer of the State of North Carolina raised its holdings in YETI by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 38,421 shares of the company’s stock worth $1,989,000 after purchasing an additional 380 shares during the period.

YETI Trading Up 4.4 %

Shares of YETI stock opened at $40.37 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $39.43 and its 200-day simple moving average is $38.90. The stock has a market cap of $3.42 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.13 and a beta of 2.11. YETI Holdings, Inc. has a 1-year low of $33.88 and a 1-year high of $54.15.

YETI (NYSE:YETI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. YETI had a return on equity of 28.83% and a net margin of 10.66%. The company had revenue of $463.50 million for the quarter, compared to analyst estimates of $452.42 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts predict that YETI Holdings, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on YETI shares. KeyCorp raised their price objective on YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Jefferies Financial Group boosted their price target on shares of YETI from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Citigroup decreased their price objective on shares of YETI from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Piper Sandler reiterated an “overweight” rating and issued a $54.00 target price on shares of YETI in a research report on Tuesday, July 30th. Finally, Roth Mkm upped their price target on shares of YETI from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. One 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 company presently has an average rating of “Hold” and an average target price of $46.43.

YETI Company 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.