Federated Hermes Inc. Lowers Stake in YETI Holdings, Inc. (NYSE:YETI)

Federated Hermes Inc. cut its position in shares of YETI Holdings, Inc. (NYSE:YETI) by 4.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 805,161 shares of the company’s stock after selling 39,749 shares during the quarter. Federated Hermes Inc. owned about 0.93% of YETI worth $41,691,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. increased its holdings in YETI by 53.0% in the 4th quarter. Baillie Gifford & Co. now owns 9,416,441 shares of the company’s stock valued at $487,583,000 after purchasing an additional 3,260,704 shares in the last quarter. BlackRock Inc. raised its holdings in shares of YETI by 2.4% during the 1st quarter. BlackRock Inc. now owns 7,759,032 shares of the company’s stock valued at $310,361,000 after buying an additional 180,218 shares during the period. Vanguard Group Inc. lifted its position in YETI by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,556,216 shares of the company’s stock worth $215,503,000 after acquiring an additional 53,886 shares in the last quarter. Capital World Investors boosted its holdings in YETI by 23.4% in the 1st quarter. Capital World Investors now owns 7,266,836 shares of the company’s stock worth $435,865,000 after acquiring an additional 1,376,536 shares during the period. Finally, Wellington Management Group LLP grew its position in YETI by 6.7% in the first quarter. Wellington Management Group LLP now owns 4,613,072 shares of the company’s stock valued at $276,692,000 after acquiring an additional 289,335 shares in the last quarter.

Analyst Ratings Changes

YETI has been the subject of several analyst reports. B. Riley restated a “neutral” rating and issued a $42.00 target price on shares of YETI in a research note on Friday, February 16th. Canaccord Genuity Group lowered their target price on YETI from $41.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, April 5th. KeyCorp boosted their price target on YETI from $33.00 to $36.00 and gave the stock an “underweight” rating in a research note on Friday, January 12th. Raymond James lowered their price objective on YETI from $55.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Finally, Canaccord Genuity Group lowered YETI from a “buy” rating to a “hold” rating and upped their target price for the company from $49.00 to $50.00 in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.29.

YETI Price Performance

YETI opened at $37.30 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.30 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $39.03 and its 200 day moving average price is $42.81. YETI Holdings, Inc. has a fifty-two week low of $34.70 and a fifty-two week high of $54.15. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 1.45 and a beta of 2.29.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). YETI had a return on equity of 27.99% and a net margin of 10.24%. The company had revenue of $519.79 million for the quarter, compared to analyst estimates of $535.99 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts expect that YETI Holdings, Inc. will post 2.27 earnings per share for the current year.

YETI 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.