Handelsbanken Fonder AB Grows Position in YETI Holdings, Inc. $YETI

Handelsbanken Fonder AB boosted its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 165.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 482,858 shares of the company’s stock after buying an additional 300,958 shares during the quarter. Handelsbanken Fonder AB owned 0.64% of YETI worth $23,930,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Reinhart Partners LLC. raised its position in YETI by 5.1% in the second quarter. Reinhart Partners LLC. now owns 3,277,296 shares of the company’s stock valued at $162,423,000 after purchasing an additional 158,957 shares during the period. GAMMA Investing LLC lifted its stake in YETI by 4.3% during the second quarter. GAMMA Investing LLC now owns 5,113 shares of the company’s stock worth $253,000 after purchasing an additional 211 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of YETI by 19.0% during the second quarter. Versant Capital Management Inc now owns 16,078 shares of the company’s stock worth $797,000 after buying an additional 2,567 shares during the period. Redwood Investment Management LLC boosted its position in shares of YETI by 14.8% during the first quarter. Redwood Investment Management LLC now owns 28,707 shares of the company’s stock worth $1,050,000 after buying an additional 3,708 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of YETI by 50.9% in the first quarter. Parallel Advisors LLC now owns 2,446 shares of the company’s stock valued at $89,000 after buying an additional 825 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on YETI. Robert W. Baird boosted their price objective on YETI from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of YETI in a report on Friday, August 7th. The Goldman Sachs Group raised YETI from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $63.00 in a research report on Monday, July 20th. UBS Group boosted their price target on shares of YETI from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley set a $45.00 price target on shares of YETI in a research report on Tuesday, June 23rd. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.17.

YETI Stock Performance

NYSE:YETI opened at $50.83 on Thursday. The firm has a market capitalization of $3.85 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.60 and a beta of 1.72. The business’s fifty day moving average price is $49.80 and its 200 day moving average price is $44.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.10 and a quick ratio of 1.06. YETI Holdings, Inc. has a 12 month low of $31.66 and a 12 month high of $53.99.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.09. The company had revenue of $380.41 million during the quarter, compared to the consensus estimate of $374.73 million. YETI had a return on equity of 22.61% and a net margin of 8.36%.YETI’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. On average, sell-side analysts anticipate that YETI Holdings, Inc. will post 2.44 earnings per share for the current fiscal year.

About YETI

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.