DAVENPORT & Co LLC lowered its stake in Yeti Holdings Inc (NYSE:YETI) by 2.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 26,698 shares of the company’s stock after selling 606 shares during the quarter. DAVENPORT & Co LLC’s holdings in Yeti were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of YETI. Sowell Financial Services LLC bought a new position in shares of Yeti in the first quarter worth about $46,000. Financial Management Professionals Inc. bought a new position in shares of Yeti in the second quarter worth about $57,000. US Bancorp DE raised its stake in shares of Yeti by 1,958.0% in the first quarter. US Bancorp DE now owns 3,581 shares of the company’s stock worth $70,000 after buying an additional 3,407 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Yeti by 248.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,669 shares of the company’s stock valued at $71,000 after purchasing an additional 2,615 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Yeti by 137.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,689 shares of the company’s stock valued at $92,000 after purchasing an additional 2,715 shares during the period. 69.95% of the stock is currently owned by hedge funds and other institutional investors.
YETI has been the topic of several recent analyst reports. William Blair reissued a “buy” rating on shares of Yeti in a research note on Friday, April 24th. Goldman Sachs Group downgraded Yeti from a “buy” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $40.00 in a research note on Tuesday, July 7th. TheStreet raised Yeti from a “d” rating to a “c-” rating in a research note on Tuesday, May 12th. KeyCorp lifted their target price on Yeti from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Finally, Stifel Nicolaus lifted their target price on Yeti from $33.00 to $45.00 and gave the company a “hold” rating in a research note on Friday, July 24th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $42.31.
NYSE:YETI opened at $48.89 on Friday. The company has a debt-to-equity ratio of 2.79, a current ratio of 2.66 and a quick ratio of 1.32. Yeti Holdings Inc has a 1 year low of $15.28 and a 1 year high of $48.96. The stock’s 50 day simple moving average is $42.00 and its two-hundred day simple moving average is $31.84. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 74.08, a PEG ratio of 3.00 and a beta of 2.96.
Yeti (NYSE:YETI) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.06. The business had revenue of $174.40 million for the quarter, compared to the consensus estimate of $158.76 million. Yeti had a return on equity of 98.00% and a net margin of 6.08%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, analysts anticipate that Yeti Holdings Inc will post 0.97 EPS for the current year.
In other news, SVP Bryan C. Barksdale sold 7,000 shares of Yeti stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $25.80, for a total value of $180,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Reintjes sold 10,000 shares of Yeti stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $42.10, for a total value of $421,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,213,075 shares of company stock valued at $400,589,595. Company insiders own 10.70% of the company’s stock.
YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.
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