Mystic Asset Management Inc. Grows Holdings in YETI Holdings, Inc. (NYSE:YETI)

Mystic Asset Management Inc. raised its holdings in shares of YETI Holdings, Inc. (NYSE:YETI) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,328 shares of the company’s stock after purchasing an additional 803 shares during the quarter. Mystic Asset Management Inc.’s holdings in YETI were worth $737,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its holdings in shares of YETI by 311.4% in the second quarter. American Century Companies Inc. now owns 1,967,215 shares of the company’s stock valued at $75,049,000 after purchasing an additional 1,488,994 shares during the period. Norges Bank purchased a new stake in shares of YETI in the 4th quarter worth $46,686,000. Franklin Resources Inc. grew its position in shares of YETI by 18.7% during the 4th quarter. Franklin Resources Inc. now owns 3,999,412 shares of the company’s stock worth $207,090,000 after buying an additional 629,287 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of YETI by 2.4% in the first quarter. Capital Research Global Investors now owns 10,418,410 shares of the company’s stock valued at $401,630,000 after acquiring an additional 248,680 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of YETI in the first quarter valued at about $9,341,000.

Wall Street Analyst Weigh In

YETI has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of YETI from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. TD Cowen lifted their price objective on shares of YETI from $43.00 to $46.00 and gave the company a “hold” rating in a report on Friday, August 9th. Piper Sandler restated an “overweight” rating and set a $54.00 target price on shares of YETI in a report on Tuesday, July 30th. KeyCorp lifted their price target on YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Finally, B. Riley upped their price objective on YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, YETI currently has an average rating of “Hold” and a consensus target price of $46.43.

YETI Price Performance

Shares of YETI stock opened at $39.06 on Friday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 1.14 and a beta of 2.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29. The stock’s 50-day simple moving average is $39.32 and its 200-day simple moving average is $38.94. YETI Holdings, Inc. has a fifty-two week low of $33.88 and a fifty-two week high of $54.15.

YETI (NYSE:YETI) last released its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $463.50 million for the quarter, compared to the consensus estimate of $452.42 million. YETI had a net margin of 10.66% and a return on equity of 28.83%. YETI’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, equities analysts forecast that YETI Holdings, Inc. will post 2.35 earnings per share for the current fiscal year.

YETI Company 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.