Envestnet Portfolio Solutions Inc. Purchases New Stake in YETI Holdings, Inc. (NYSE:YETI)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of YETI Holdings, Inc. (NYSE:YETI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,913 shares of the company’s stock, valued at approximately $343,000.

Other large investors also recently made changes to their positions in the company. Swedbank AB acquired a new position in shares of YETI during the 4th quarter valued at $7,702,000. Retirement Systems of Alabama lifted its stake in shares of YETI by 190.3% during the fourth quarter. Retirement Systems of Alabama now owns 298,526 shares of the company’s stock worth $11,496,000 after purchasing an additional 195,693 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of YETI by 1,426.4% in the fourth quarter. First Eagle Investment Management LLC now owns 190,800 shares of the company’s stock worth $7,348,000 after buying an additional 178,300 shares during the period. Verition Fund Management LLC grew its stake in shares of YETI by 855.1% in the third quarter. Verition Fund Management LLC now owns 183,630 shares of the company’s stock valued at $7,534,000 after buying an additional 164,404 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of YETI during the 4th quarter valued at about $6,240,000.

YETI Stock Performance

YETI stock opened at $33.92 on Friday. The stock’s 50 day simple moving average is $36.11 and its 200 day simple moving average is $38.22. YETI Holdings, Inc. has a 12-month low of $31.48 and a 12-month high of $45.25. The firm has a market cap of $2.79 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.05 and a beta of 2.15. The company has a current ratio of 2.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last released its earnings results on Thursday, February 13th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The business had revenue of $555.37 million for the quarter, compared to the consensus estimate of $554.08 million. As a group, equities research analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current year.

Analysts Set New Price Targets

YETI has been the subject of several recent research reports. KeyCorp lowered their price objective on shares of YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Canaccord Genuity Group lowered their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating for the company in a report on Friday, February 14th. Morgan Stanley cut their price objective on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. UBS Group lowered their target price on YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Stifel Nicolaus cut their price target on YETI from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.77.

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.