Olympiad Research LP Acquires New Position in YETI Holdings, Inc. (NYSE:YETI)

Olympiad Research LP acquired a new stake in shares of YETI Holdings, Inc. (NYSE:YETI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,121 shares of the company’s stock, valued at approximately $351,000.

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

Analyst Ratings Changes

Several analysts have commented on YETI shares. Piper Sandler reissued an “overweight” rating and issued a $54.00 target price (down from $55.00) on shares of YETI in a research report on Friday, November 8th. Bank of America downgraded shares of YETI from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $40.00 in a research report on Wednesday, November 6th. KeyCorp decreased their target price 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. TD Cowen decreased their target price on shares of YETI from $46.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, November 11th. Finally, Stifel Nicolaus decreased their target price on shares of YETI from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $44.77.

YETI Price Performance

NYSE:YETI opened at $36.83 on Friday. The stock has a market cap of $3.12 billion, a P/E ratio of 17.88, a PEG ratio of 1.05 and a beta of 2.13. YETI Holdings, Inc. has a one year low of $33.41 and a one year high of $45.25. The company has a fifty day moving average price of $38.11 and a 200 day moving average price of $39.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36.

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