HighTower Advisors LLC Cuts Stake in YETI Holdings, Inc. (NYSE:YETI)

HighTower Advisors LLC cut its stake in YETI Holdings, Inc. (NYSE:YETI) by 26.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,493 shares of the company’s stock after selling 2,305 shares during the quarter. HighTower Advisors LLC’s holdings in YETI were worth $263,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James & Associates lifted its position in shares of YETI by 10.3% in the second quarter. Raymond James & Associates now owns 145,588 shares of the company’s stock valued at $5,554,000 after acquiring an additional 13,641 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in YETI by 225.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 176,247 shares of the company’s stock valued at $6,724,000 after purchasing an additional 122,046 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in YETI by 7.4% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 29,123 shares of the company’s stock valued at $1,111,000 after purchasing an additional 2,005 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of YETI by 0.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 92,619 shares of the company’s stock worth $3,533,000 after buying an additional 547 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of YETI by 17.3% in the second quarter. Commonwealth Equity Services LLC now owns 18,768 shares of the company’s stock valued at $716,000 after buying an additional 2,769 shares during the last quarter.

YETI Price Performance

Shares of YETI opened at $39.44 on Tuesday. The firm has a 50-day simple moving average of $39.53 and a two-hundred day simple moving average of $39.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45. YETI Holdings, Inc. has a 1-year low of $33.41 and a 1-year high of $53.90. The stock has a market cap of $3.35 billion, a PE ratio of 16.93, a P/E/G ratio of 1.37 and a beta of 2.15.

Analysts Set New Price Targets

YETI has been the topic of a number of recent research reports. Canaccord Genuity Group restated a “hold” rating and set a $44.00 price target on shares of YETI in a research report on Thursday, November 14th. Piper Sandler restated an “overweight” rating and issued a $54.00 price target (down from $55.00) on shares of YETI in a research report on Friday, November 8th. TD Cowen reduced their price objective on YETI from $46.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Finally, Bank of America cut YETI from a “buy” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $40.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.46.

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.