Empower Advisory Group LLC Increases Position in YETI Holdings, Inc. (NYSE:YETI)

Empower Advisory Group LLC boosted its holdings in YETI Holdings, Inc. (NYSE:YETI) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 331,806 shares of the company’s stock after purchasing an additional 19,888 shares during the period. Empower Advisory Group LLC owned about 0.39% of YETI worth $12,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Truist Financial Corp boosted its stake in YETI by 304.2% during the 4th quarter. Truist Financial Corp now owns 28,501 shares of the company’s stock valued at $1,098,000 after acquiring an additional 21,450 shares during the last quarter. Sanctuary Advisors LLC bought a new position in YETI in the fourth quarter worth about $253,000. State of New Jersey Common Pension Fund D boosted its position in YETI by 14.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 55,227 shares of the company’s stock valued at $2,127,000 after purchasing an additional 6,776 shares during the period. Allworth Financial LP boosted its holdings in shares of YETI by 237.1% during the fourth quarter. Allworth Financial LP now owns 664 shares of the company’s stock valued at $25,000 after acquiring an additional 467 shares during the period. Finally, Principal Securities Inc. boosted its stake in YETI by 305.5% during the 4th quarter. Principal Securities Inc. now owns 5,421 shares of the company’s stock valued at $209,000 after purchasing an additional 4,084 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stifel Nicolaus lowered their price objective on shares of YETI from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday. Bank of America lowered YETI from a “buy” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $40.00 in a report on Wednesday, November 6th. Canaccord Genuity Group dropped their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 price objective (down previously from $55.00) on shares of YETI in a research note on Friday, November 8th. Finally, Morgan Stanley cut their target price on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.77.

YETI Price Performance

NYSE YETI opened at $38.02 on Tuesday. The company has a 50 day simple moving average of $38.67 and a 200-day simple moving average of $39.17. YETI Holdings, Inc. has a 52-week low of $33.41 and a 52-week high of $45.25. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.06 and a beta of 2.13. 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 (NYSE:YETI) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). YETI had a net margin of 11.15% and a return on equity of 28.31%. The company had revenue of $555.37 million for the quarter, compared to analysts’ expectations of $554.08 million. Equities research analysts predict that YETI Holdings, Inc. will post 2.37 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.