Ieq Capital LLC Decreases Stock Position in YETI Holdings, Inc. (NYSE:YETI)

Ieq Capital LLC cut its position in YETI Holdings, Inc. (NYSE:YETI) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,063 shares of the company’s stock after selling 1,436 shares during the period. Ieq Capital LLC’s holdings in YETI were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in YETI by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,427,191 shares of the company’s stock worth $58,573,000 after buying an additional 7,382 shares during the period. Congress Asset Management Co. grew its position in shares of YETI by 5.6% in the fourth quarter. Congress Asset Management Co. now owns 1,131,060 shares of the company’s stock valued at $43,557,000 after purchasing an additional 60,407 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in shares of YETI by 7.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 810,182 shares of the company’s stock valued at $33,242,000 after purchasing an additional 53,023 shares during the period. Point72 Asset Management L.P. lifted its holdings in YETI by 25.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 764,150 shares of the company’s stock worth $31,353,000 after purchasing an additional 156,926 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in YETI by 17.3% in the 3rd quarter. Royce & Associates LP now owns 585,971 shares of the company’s stock worth $24,042,000 after purchasing an additional 86,405 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on YETI shares. Morgan Stanley decreased their target price 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 cut their price objective on shares of YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Piper Sandler restated an “overweight” rating and set a $54.00 price target (down from $55.00) on shares of YETI in a research report on Friday, November 8th. Bank of America cut shares of YETI from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $40.00 in a research report on Wednesday, November 6th. Finally, Canaccord Genuity Group decreased their target price on YETI from $44.00 to $42.00 and set a “hold” rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.77.

YETI Trading Down 4.7 %

NYSE YETI opened at $35.63 on Friday. The stock’s 50 day moving average is $37.74 and its 200 day moving average is $39.04. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.02 billion, a PE ratio of 17.30, a P/E/G ratio of 1.05 and a beta of 2.14. YETI Holdings, Inc. has a twelve month low of $33.41 and a twelve month high of $45.25.

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

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.