Traders Buy Large Volume of YETI Call Options (NYSE:YETI)

YETI Holdings, Inc. (NYSE:YETI - Get Free Report) was the target of some unusual options trading activity on Thursday. Investors purchased 2,160 call options on the stock. This represents an increase of 37% compared to the typical volume of 1,581 call options.

YETI Trading Up 7.6 %

YETI traded up $2.74 during midday trading on Thursday, reaching $38.87. 5,706,840 shares of the company's stock traded hands, compared to its average volume of 1,610,623. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 18.02, a P/E/G ratio of 1.07 and a beta of 2.12. YETI has a 52 week low of $33.41 and a 52 week high of $54.15. The firm has a fifty day moving average of $38.80 and a two-hundred day moving average of $39.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. YETI had a net margin of 10.66% and a return on equity of 28.83%. The business had revenue of $463.50 million for the quarter, compared to analysts' expectations of $452.42 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that YETI will post 2.35 earnings per share for the current fiscal year.

Institutional Trading of YETI

Large investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of YETI by 311.4% during 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in YETI during the second quarter valued at $23,166,000. WCM Investment Management LLC boosted its holdings in shares of YETI by 655.4% during the 3rd quarter. WCM Investment Management LLC now owns 508,882 shares of the company's stock valued at $20,701,000 after buying an additional 441,516 shares in the last quarter. Millennium Management LLC grew its position in shares of YETI by 54.8% in the 2nd quarter. Millennium Management LLC now owns 817,366 shares of the company's stock worth $31,183,000 after buying an additional 289,298 shares during the period. Finally, Marshall Wace LLP grew its position in shares of YETI by 76.2% in the 2nd quarter. Marshall Wace LLP now owns 607,551 shares of the company's stock worth $23,178,000 after buying an additional 262,829 shares during the period.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of YETI from $49.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $44.00 price target on shares of YETI in a research note on Monday, September 30th. KeyCorp raised their price objective on YETI from $36.00 to $38.00 and gave the company an "underweight" rating in a report on Friday, August 9th. TD Cowen upped their target price on YETI from $43.00 to $46.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. Finally, B. Riley lifted their price target on shares of YETI from $38.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $45.62.

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.