Sumitomo Life Insurance Co. Lowers Stake in YETI Holdings, Inc. (NYSE:YETI)

Sumitomo Life Insurance Co. decreased its position in YETI Holdings, Inc. (NYSE:YETI) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,413 shares of the company’s stock after selling 648 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in YETI were worth $1,402,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in shares of YETI by 23.8% in the second quarter. Envestnet Asset Management Inc. now owns 80,525 shares of the company’s stock valued at $3,072,000 after purchasing an additional 15,469 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of YETI in the second quarter worth $153,000. AXA S.A. purchased a new stake in shares of YETI during the second quarter worth $1,306,000. AQR Capital Management LLC raised its stake in shares of YETI by 3.1% in the second quarter. AQR Capital Management LLC now owns 145,540 shares of the company’s stock valued at $5,552,000 after acquiring an additional 4,409 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in YETI by 54.8% in the second quarter. Millennium Management LLC now owns 817,366 shares of the company’s stock valued at $31,183,000 after purchasing an additional 289,298 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on YETI shares. TD Cowen cut their price target on YETI from $46.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, November 11th. UBS Group cut their target price on shares of YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Bank of America downgraded shares of YETI from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $40.00 in a research note on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price objective (down from $55.00) on shares of YETI in a research report on Friday, November 8th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $44.00 price objective on shares of YETI in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, YETI presently has a consensus rating of “Hold” and an average target price of $44.69.

YETI Stock Performance

NYSE YETI opened at $37.69 on Thursday. The company has a fifty day moving average of $39.62 and a two-hundred day moving average of $39.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45. YETI Holdings, Inc. has a 1 year low of $33.41 and a 1 year high of $49.01. The company has a market capitalization of $3.20 billion, a PE ratio of 16.18, a P/E/G ratio of 1.07 and a beta of 2.14.

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.