Pinnacle Associates Ltd. Has $1.69 Million Position in YETI Holdings, Inc. $YETI

Pinnacle Associates Ltd. increased its holdings in shares of YETI Holdings, Inc. (NYSE:YETI) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,700 shares of the company’s stock after acquiring an additional 3,400 shares during the period. Pinnacle Associates Ltd. owned about 0.06% of YETI worth $1,693,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in YETI. Allspring Global Investments Holdings LLC boosted its position in shares of YETI by 8.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 66,596 shares of the company’s stock valued at $2,244,000 after acquiring an additional 5,199 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of YETI by 44.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 321,065 shares of the company’s stock valued at $10,627,000 after acquiring an additional 98,884 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of YETI by 364.4% during the 1st quarter. Crossmark Global Holdings Inc. now owns 55,610 shares of the company’s stock valued at $1,841,000 after acquiring an additional 43,636 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of YETI by 2.5% in the 1st quarter. Brown Advisory Inc. now owns 1,077,716 shares of the company’s stock valued at $35,672,000 after purchasing an additional 26,156 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in shares of YETI by 16.1% in the 1st quarter. Alps Advisors Inc. now owns 10,569 shares of the company’s stock valued at $350,000 after purchasing an additional 1,469 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on YETI. Morgan Stanley boosted their target price on shares of YETI from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. Raymond James Financial restated an “outperform” rating and issued a $37.00 target price (up previously from $34.00) on shares of YETI in a research note on Friday, August 8th. Canaccord Genuity Group boosted their target price on shares of YETI from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of YETI in a research note on Wednesday, October 8th. Finally, Cowen restated a “hold” rating on shares of YETI in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.69.

YETI Stock Down 0.8%

Shares of NYSE YETI opened at $34.01 on Monday. The firm’s 50-day simple moving average is $34.76 and its 200 day simple moving average is $32.98. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 2.40 and a beta of 1.89. The company has a quick ratio of 1.48, a current ratio of 2.52 and a debt-to-equity ratio of 0.09. YETI Holdings, Inc. has a 12-month low of $26.61 and a 12-month high of $45.25.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.12. The business had revenue of $445.89 million for the quarter, compared to the consensus estimate of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. YETI has set its FY 2025 guidance at 2.340-2.480 EPS. On average, research analysts expect that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

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.