Raymond James Financial Inc. Acquires New Stake in YETI Holdings, Inc. (NYSE:YETI)

Raymond James Financial Inc. purchased a new position in shares of YETI Holdings, Inc. (NYSE:YETI) in the fourth quarter, HoldingsChannel reports. The fund purchased 162,033 shares of the company’s stock, valued at approximately $6,240,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Swedbank AB bought a new position in shares of YETI in the 4th quarter valued at about $7,702,000. Retirement Systems of Alabama grew its holdings in YETI by 190.3% during the fourth quarter. Retirement Systems of Alabama now owns 298,526 shares of the company’s stock worth $11,496,000 after purchasing an additional 195,693 shares during the period. Verition Fund Management LLC grew its holdings in YETI by 855.1% during the third quarter. Verition Fund Management LLC now owns 183,630 shares of the company’s stock worth $7,534,000 after purchasing an additional 164,404 shares during the period. Point72 Asset Management L.P. increased its position in YETI by 25.8% during the third quarter. Point72 Asset Management L.P. now owns 764,150 shares of the company’s stock worth $31,353,000 after buying an additional 156,926 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in YETI by 92.9% in the third quarter. BNP Paribas Financial Markets now owns 264,838 shares of the company’s stock valued at $10,866,000 after buying an additional 127,518 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group dropped their price target on YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Canaccord Genuity Group lowered their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Morgan Stanley reduced their price objective on YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. KeyCorp dropped their price target on YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Stifel Nicolaus lowered their price objective on YETI from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.77.

YETI Trading Down 1.1 %

Shares of YETI stock opened at $34.39 on Tuesday. The firm’s 50-day moving average price is $36.31 and its two-hundred day moving average price is $38.31. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.05 and a beta of 2.15. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. YETI Holdings, Inc. has a 12-month low of $31.48 and a 12-month high of $45.25.

YETI (NYSE:YETI) last issued its 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). The business had revenue of $555.37 million for the quarter, compared to analyst estimates of $554.08 million. YETI had a return on equity of 28.23% and a net margin of 9.60%. On average, analysts forecast that YETI Holdings, Inc. will post 2.57 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.