Homestead Advisers Corp Cuts Stock Position in YETI Holdings, Inc. $YETI

Homestead Advisers Corp decreased its holdings in shares of YETI Holdings, Inc. (NYSE:YETI) by 26.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 69,700 shares of the company’s stock after selling 25,600 shares during the period. Homestead Advisers Corp’s holdings in YETI were worth $2,313,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in YETI. IFP Advisors Inc grew its stake in shares of YETI by 4,552.6% in the second quarter. IFP Advisors Inc now owns 884 shares of the company’s stock valued at $30,000 after buying an additional 865 shares in the last quarter. True Wealth Design LLC boosted its holdings in YETI by 141.1% in the 3rd quarter. True Wealth Design LLC now owns 885 shares of the company’s stock worth $29,000 after acquiring an additional 518 shares during the period. MAI Capital Management purchased a new position in YETI in the 2nd quarter worth approximately $31,000. SJS Investment Consulting Inc. grew its position in YETI by 7,876.5% in the third quarter. SJS Investment Consulting Inc. now owns 1,356 shares of the company’s stock valued at $45,000 after acquiring an additional 1,339 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of YETI by 151.6% during the third quarter. Hantz Financial Services Inc. now owns 1,530 shares of the company’s stock valued at $51,000 after purchasing an additional 922 shares during the period.

Analysts Set New Price Targets

YETI has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of YETI in a research note on Wednesday, January 21st. The Goldman Sachs Group reissued a “neutral” rating and issued a $45.00 price objective on shares of YETI in a research report on Tuesday, January 27th. KeyCorp upgraded YETI from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research note on Friday, January 16th. William Blair reiterated an “outperform” rating on shares of YETI in a research note on Tuesday, November 11th. Finally, Morgan Stanley set a $48.00 price target on YETI in a report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $44.42.

Insider Activity

In related news, SVP Bryan C. Barksdale sold 9,756 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $45.32, for a total transaction of $442,141.92. Following the transaction, the senior vice president directly owned 56,397 shares in the company, valued at $2,555,912.04. This trade represents a 14.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.94% of the company’s stock.

YETI Stock Up 1.2%

NYSE:YETI opened at $47.34 on Thursday. The stock has a 50-day simple moving average of $45.79 and a 200 day simple moving average of $39.06. YETI Holdings, Inc. has a one year low of $26.61 and a one year high of $51.29. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.58 and a beta of 1.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.16 and a current ratio of 2.16.

YETI (NYSE:YETI) last released its earnings results on Thursday, November 6th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $487.77 million for 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

YETI Company Profile

YETI Holdings, Inc is an American outdoor and lifestyle products company known for its premium, performance-driven coolers, drinkware and accessories. The company’s portfolio includes hard coolers under its flagship Tundra series, soft coolers in the Hopper line, and vacuum-insulated drinkware sold under the Rambler brand. YETI’s products are engineered for durability, temperature retention and rugged outdoor use, targeting consumers ranging from avid anglers and hunters to outdoor enthusiasts and everyday users seeking high-quality insulated containers.

Founded in 2006 by brothers Roy and Ryan Seiders in Austin, Texas, YETI began with a focus on building a better cooler that could withstand extreme conditions and maintain ice retention longer than traditional alternatives.