Principal Financial Group Inc. Cuts Holdings in YETI Holdings, Inc. (NYSE:YETI)

Principal Financial Group Inc. decreased its position in YETI Holdings, Inc. (NYSE:YETI) by 25.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 325,522 shares of the company’s stock after selling 109,376 shares during the period. Principal Financial Group Inc.’s holdings in YETI were worth $13,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank grew its holdings in shares of YETI by 0.3% in the first quarter. Swiss National Bank now owns 171,400 shares of the company’s stock valued at $6,607,000 after acquiring an additional 500 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of YETI by 5.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,639 shares of the company’s stock valued at $3,706,000 after purchasing an additional 4,920 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of YETI by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,266,931 shares of the company’s stock worth $318,690,000 after purchasing an additional 57,582 shares during the period. Ontario Teachers Pension Plan Board grew its position in YETI by 83.7% during the first quarter. Ontario Teachers Pension Plan Board now owns 41,931 shares of the company’s stock valued at $1,616,000 after buying an additional 19,101 shares during the period. Finally, Edgestream Partners L.P. bought a new position in YETI during the first quarter valued at about $1,780,000.

YETI Trading Down 1.4 %

Shares of YETI stock opened at $38.16 on Friday. The company’s 50-day moving average price is $38.87 and its 200-day moving average price is $39.27. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.12 and a beta of 2.12. YETI Holdings, Inc. has a 12-month low of $33.41 and a 12-month high of $54.15. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.10.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on YETI shares. KeyCorp boosted their target price on shares of YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. B. Riley increased their price objective on YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Bank of America downgraded 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. Roth Mkm upped their price target on YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Piper Sandler restated an “overweight” rating and issued a $54.00 price objective (down from $55.00) on shares of YETI in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.46.

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.