NBC Securities Inc. Reduces Stock Position in YETI Holdings, Inc. (NYSE:YETI)

NBC Securities Inc. trimmed its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,474 shares of the company’s stock after selling 374 shares during the period. NBC Securities Inc.’s holdings in YETI were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new position in YETI in the first quarter worth about $27,000. Versant Capital Management Inc grew its position in YETI by 571.8% during the second quarter. Versant Capital Management Inc now owns 833 shares of the company’s stock valued at $32,000 after buying an additional 709 shares during the period. Fidelis Capital Partners LLC purchased a new stake in YETI during the first quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC bought a new position in YETI in the second quarter worth approximately $42,000. Finally, GAMMA Investing LLC increased its stake in shares of YETI by 52.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,223 shares of the company’s stock worth $50,000 after purchasing an additional 423 shares in the last quarter.

YETI Stock Down 2.6 %

Shares of YETI opened at $39.53 on Friday. The business’s 50 day simple moving average is $40.03 and its 200-day simple moving average is $39.26. YETI Holdings, Inc. has a 1 year low of $33.88 and a 1 year high of $54.15. 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 has a market capitalization of $3.37 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.19 and a beta of 2.11.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $452.42 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. YETI’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts expect that YETI Holdings, Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on YETI shares. B. Riley boosted their price target on YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Jefferies Financial Group increased their target price 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 lowered their price target 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 price target on shares of YETI in a research report on Tuesday, July 30th. Finally, KeyCorp raised their price objective on shares of YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.77.

About YETI

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.