Teacher Retirement System of Texas Reduces Stock Position in YETI Holdings, Inc. $YETI

Teacher Retirement System of Texas lessened its stake in YETI Holdings, Inc. (NYSE:YETI) by 15.0% in the second quarter, HoldingsChannel reports. The firm owned 30,896 shares of the company’s stock after selling 5,466 shares during the period. Teacher Retirement System of Texas’ holdings in YETI were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Engaged Capital LLC purchased a new position in shares of YETI in the 1st quarter worth $51,090,000. AQR Capital Management LLC lifted its holdings in YETI by 780.9% in the first quarter. AQR Capital Management LLC now owns 1,444,617 shares of the company’s stock valued at $47,752,000 after acquiring an additional 1,280,622 shares during the period. Reinhart Partners LLC. boosted its position in YETI by 101.6% in the second quarter. Reinhart Partners LLC. now owns 2,142,818 shares of the company’s stock worth $67,542,000 after purchasing an additional 1,080,072 shares during the last quarter. American Century Companies Inc. grew its stake in shares of YETI by 48.9% during the 1st quarter. American Century Companies Inc. now owns 2,150,724 shares of the company’s stock valued at $71,189,000 after purchasing an additional 706,601 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in shares of YETI during the 2nd quarter valued at about $16,960,000.

YETI Price Performance

NYSE YETI opened at $35.21 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.48 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. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.36 and a beta of 1.89. The company’s 50 day moving average is $34.61 and its two-hundred day moving average is $33.07.

YETI (NYSE:YETI) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.12. The firm had revenue of $445.89 million during the quarter, compared to analysts’ expectations of $461.73 million. YETI had a net margin of 9.73% and a return on equity of 24.60%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. As a group, research analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Analysts Set New Price Targets

YETI has been the topic of a number of research reports. Canaccord Genuity Group raised their price objective on shares of YETI from $33.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of YETI in a report on Wednesday, October 8th. Morgan Stanley increased their price target on shares of YETI from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Jefferies Financial Group reissued a “buy” rating on shares of YETI in a research report on Tuesday, September 16th. Finally, Stifel Nicolaus upped their price objective on YETI from $31.00 to $33.00 and gave the stock a “hold” rating in a research note on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.58.

YETI Profile

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.