Norges Bank Invests $36.78 Million in YETI Holdings, Inc. (NYSE:YETI)

Norges Bank purchased a new stake in YETI Holdings, Inc. (NYSE:YETI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 955,030 shares of the company's stock, valued at approximately $36,778,000. Norges Bank owned about 1.13% of YETI as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new stake in YETI during the fourth quarter worth about $9,060,000. JPMorgan Chase & Co. boosted its stake in shares of YETI by 30.3% in the fourth quarter. JPMorgan Chase & Co. now owns 569,184 shares of the company's stock worth $21,919,000 after acquiring an additional 132,374 shares during the last quarter. Congress Wealth Management LLC DE lifted its position in YETI by 14.1% during the fourth quarter. Congress Wealth Management LLC DE now owns 154,940 shares of the company's stock worth $5,967,000 after buying an additional 19,103 shares in the last quarter. Stevens Capital Management LP purchased a new position in YETI during the fourth quarter worth approximately $273,000. Finally, LPL Financial LLC raised its position in YETI by 29.8% in the fourth quarter. LPL Financial LLC now owns 35,425 shares of the company's stock valued at $1,364,000 after purchasing an additional 8,141 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on YETI shares. Canaccord Genuity Group reduced their target price on YETI from $44.00 to $42.00 and set a "hold" rating on the stock in a research 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 research note on Friday, February 14th. UBS Group cut their target price on YETI from $44.00 to $43.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus cut their target price on YETI from $40.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday. Finally, KeyCorp lowered their price target on YETI from $36.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $44.31.

Remove Ads

YETI Price Performance

NYSE:YETI traded down $1.74 during mid-day trading on Thursday, hitting $29.16. The company's stock had a trading volume of 460,395 shares, compared to its average volume of 1,853,787. YETI Holdings, Inc. has a fifty-two week low of $26.66 and a fifty-two week high of $45.25. The company has a current ratio of 2.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.05 and a beta of 2.04. The stock has a fifty day moving average of $34.59 and a 200-day moving average of $37.64.

YETI (NYSE:YETI - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The business had revenue of $555.37 million during the quarter, compared to the consensus estimate of $554.08 million. As a group, equities analysts forecast that YETI Holdings, Inc. will post 2.57 EPS 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.