JPMorgan Chase & Co. Sells 244,082 Shares of YETI Holdings, Inc. $YETI

JPMorgan Chase & Co. cut its holdings in YETI Holdings, Inc. (NYSE:YETI) by 27.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 644,172 shares of the company’s stock after selling 244,082 shares during the period. JPMorgan Chase & Co. owned approximately 0.79% of YETI worth $20,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of YETI. Parallel Advisors LLC raised its holdings in shares of YETI by 61.6% during the second quarter. Parallel Advisors LLC now owns 984 shares of the company’s stock valued at $31,000 after purchasing an additional 375 shares during the period. UMB Bank n.a. increased its holdings in shares of YETI by 109.3% during the second quarter. UMB Bank n.a. now owns 896 shares of the company’s stock valued at $28,000 after acquiring an additional 468 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of YETI by 2.5% during the first quarter. Hsbc Holdings PLC now owns 19,429 shares of the company’s stock worth $638,000 after purchasing an additional 483 shares during the period. Assetmark Inc. lifted its holdings in shares of YETI by 7.6% in the 2nd quarter. Assetmark Inc. now owns 6,909 shares of the company’s stock worth $218,000 after purchasing an additional 488 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of YETI by 9.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,466 shares of the company’s stock worth $214,000 after purchasing an additional 569 shares in the last quarter.

YETI Price Performance

YETI stock opened at $42.42 on Friday. YETI Holdings, Inc. has a 52 week low of $26.61 and a 52 week high of $45.25. The company’s 50 day moving average price is $36.16 and its two-hundred day moving average price is $34.45. The stock has a market cap of $3.30 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.79 and a beta of 1.78. The company has a quick ratio of 1.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $487.77 million during the quarter, compared to the consensus estimate of $480.08 million. YETI had a return on equity of 23.62% and a net margin of 8.75%.YETI’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. YETI has set its FY 2025 guidance at 2.380-2.490 EPS. On average, equities analysts predict that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of YETI in a report on Tuesday, September 16th. Weiss Ratings restated a “hold (c)” rating on shares of YETI in a report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of YETI from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. Canaccord Genuity Group boosted their price objective on YETI from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $37.00 price objective (up from $34.00) on shares of YETI in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.33.

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.