Point72 Asia Singapore Pte. Ltd. Purchases New Stake in YETI Holdings, Inc. (NYSE:YETI)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of YETI Holdings, Inc. (NYSE:YETI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,787 shares of the company’s stock, valued at approximately $106,000.

Other large investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in shares of YETI by 311.4% during the 2nd quarter. American Century Companies Inc. now owns 1,967,215 shares of the company’s stock valued at $75,049,000 after acquiring an additional 1,488,994 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in YETI in the 2nd quarter valued at about $23,166,000. Millennium Management LLC grew its stake in shares of YETI by 54.8% in the 2nd quarter. Millennium Management LLC now owns 817,366 shares of the company’s stock valued at $31,183,000 after buying an additional 289,298 shares during the period. Marshall Wace LLP increased its holdings in shares of YETI by 76.2% during the 2nd quarter. Marshall Wace LLP now owns 607,551 shares of the company’s stock worth $23,178,000 after buying an additional 262,829 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of YETI by 2.4% during the 1st quarter. Capital Research Global Investors now owns 10,418,410 shares of the company’s stock valued at $401,630,000 after buying an additional 248,680 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Roth Mkm raised their target price on 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 target price on shares of YETI in a research report on Tuesday, July 30th. B. Riley raised their price objective 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. Citigroup cut their target price on shares of YETI from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Jefferies Financial Group increased their price objective on YETI from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.43.

YETI Price Performance

Shares of NYSE YETI opened at $40.88 on Friday. 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 one year low of $33.88 and a one year high of $54.15. The firm has a market capitalization of $3.46 billion, a P/E ratio of 20.34, a PEG ratio of 1.18 and a beta of 2.11. The company’s fifty day moving average is $39.73 and its two-hundred day moving average is $39.00.

YETI (NYSE:YETI) last issued its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share 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 analyst estimates of $452.42 million. During the same period in the prior year, the business 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 forecast that YETI Holdings, Inc. will post 2.35 EPS for the current fiscal 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.