DAVENPORT & Co LLC Cuts Stake in Yeti Holdings Inc (NYSE:YETI)

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DAVENPORT & Co LLC reduced its stake in Yeti Holdings Inc (NYSE:YETI) by 2.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 26,698 shares of the company’s stock after selling 606 shares during the quarter. DAVENPORT & Co LLC’s holdings in Yeti were worth $1,141,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. King Luther Capital Management Corp purchased a new position in shares of Yeti in the 1st quarter worth about $1,073,000. Goldman Sachs Group Inc. raised its stake in Yeti by 33.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 129,289 shares of the company’s stock valued at $4,497,000 after acquiring an additional 32,643 shares during the period. State of Alaska Department of Revenue bought a new stake in Yeti in the 2nd quarter valued at about $2,698,000. US Bancorp DE raised its stake in Yeti by 1,958.0% in the 1st quarter. US Bancorp DE now owns 3,581 shares of the company’s stock valued at $70,000 after acquiring an additional 3,407 shares during the period. Finally, BlackRock Inc. raised its stake in Yeti by 35.5% in the 1st quarter. BlackRock Inc. now owns 3,558,434 shares of the company’s stock valued at $69,462,000 after acquiring an additional 932,666 shares during the period. 69.95% of the stock is currently owned by institutional investors.

YETI has been the topic of several analyst reports. Jefferies Financial Group upped their price target on Yeti from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Piper Sandler upped their price target on Yeti from $35.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Cowen upped their price target on Yeti from $31.00 to $41.00 in a research report on Wednesday, June 10th. Stifel Nicolaus upped their price target on Yeti from $33.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Finally, Morgan Stanley upped their price target on Yeti from $23.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $42.31.

In related news, Director Mary Lou Kelley acquired 1,720 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $29.02 per share, with a total value of $49,914.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roy J. Seiders sold 965,797 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $28.02, for a total value of $27,061,631.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,213,075 shares of company stock valued at $400,589,595. 10.70% of the stock is owned by insiders.

Shares of YETI opened at $48.89 on Friday. The firm has a market cap of $4.25 billion, a P/E ratio of 74.08, a P/E/G ratio of 3.00 and a beta of 2.96. The stock has a 50 day simple moving average of $42.00 and a two-hundred day simple moving average of $31.84. The company has a debt-to-equity ratio of 2.79, a current ratio of 2.66 and a quick ratio of 1.32. Yeti Holdings Inc has a 1 year low of $15.28 and a 1 year high of $48.96.

Yeti (NYSE:YETI) last issued its earnings results on Thursday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The business had revenue of $174.40 million during the quarter, compared to analyst estimates of $158.76 million. Yeti had a return on equity of 98.00% and a net margin of 6.08%. Yeti’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts anticipate that Yeti Holdings Inc will post 0.97 earnings per share for the current year.

About Yeti

YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.

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Institutional Ownership by Quarter for Yeti (NYSE:YETI)

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