California Public Employees Retirement System Sells 7,204 Shares of YETI Holdings, Inc. (NYSE:YETI)

Posted by Defense World Staff on May 17th, 2023

California Public Employees Retirement System cut its holdings in YETI Holdings, Inc. (NYSE:YETI – Get Rating) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,240 shares of the company’s stock after selling 7,204 shares during the period. California Public Employees Retirement System owned about 0.23% of YETI worth $8,024,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of YETI. Capital World Investors grew its holdings in shares of YETI by 23.4% in the first quarter. Capital World Investors now owns 7,266,836 shares of the company’s stock valued at $435,865,000 after acquiring an additional 1,376,536 shares in the last quarter. Capital International Investors grew its holdings in YETI by 67.3% during the first quarter. Capital International Investors now owns 1,795,128 shares of the company’s stock valued at $107,672,000 after purchasing an additional 721,816 shares during the period. Renaissance Technologies LLC bought a new position in YETI during the first quarter valued at $33,133,000. Wasatch Advisors Inc. grew its holdings in YETI by 12.5% during the first quarter. Wasatch Advisors Inc. now owns 3,908,872 shares of the company’s stock valued at $234,454,000 after purchasing an additional 434,669 shares during the period. Finally, Congress Asset Management Co. MA bought a new position in YETI during the fourth quarter valued at $17,844,000. 94.24% of the stock is owned by institutional investors.

YETI Trading Down 2.6 %

Shares of YETI stock opened at $40.67 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 1.99. YETI Holdings, Inc. has a 52-week low of $27.86 and a 52-week high of $55.15. The company has a market capitalization of $3.52 billion, a PE ratio of 47.85, a price-to-earnings-growth ratio of 1.54 and a beta of 2.48. The business’s fifty day moving average is $39.60 and its 200 day moving average is $40.87.

YETI (NYSE:YETI – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. YETI had a return on equity of 33.52% and a net margin of 4.65%. The business had revenue of $486.41 million for the quarter, compared to the consensus estimate of $491.03 million. On average, equities research analysts anticipate that YETI Holdings, Inc. will post 2.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on YETI. Morgan Stanley reduced their price objective on YETI from $52.00 to $47.00 and set an “equal weight” rating for the company in a report on Monday, February 27th. Cowen lowered YETI from an “outperform” rating to a “market perform” rating and set a $47.00 price objective for the company. in a report on Wednesday, January 18th. Raymond James increased their price objective on YETI from $45.00 to $48.00 in a report on Friday, May 12th. Canaccord Genuity Group reduced their price objective on YETI from $58.00 to $54.00 and set a “buy” rating for the company in a report on Friday, February 24th. Finally, Roth Capital restated a “neutral” rating on shares of YETI in a research report on Wednesday, February 22nd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

About YETI

(Get Rating)

YETI Holdings, Inc engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J.