Azzad Asset Management Inc. ADV Boosts Position in YETI Holdings, Inc. (NYSE:YETI)

Azzad Asset Management Inc. ADV lifted its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 97.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,760 shares of the company’s stock after acquiring an additional 25,592 shares during the period. Azzad Asset Management Inc. ADV owned 0.06% of YETI worth $1,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Michigan Retirement System increased its position in shares of YETI by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 21,347 shares of the company’s stock worth $823,000 after purchasing an additional 500 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of YETI by 48.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 54,201 shares of the company’s stock worth $2,089,000 after purchasing an additional 17,571 shares during the last quarter. Congress Wealth Management LLC DE increased its position in shares of YETI by 6.7% during the 1st quarter. Congress Wealth Management LLC DE now owns 123,590 shares of the company’s stock worth $4,764,000 after purchasing an additional 7,769 shares during the last quarter. Chatham Capital Group Inc. increased its position in shares of YETI by 11.2% during the 1st quarter. Chatham Capital Group Inc. now owns 48,959 shares of the company’s stock worth $1,887,000 after purchasing an additional 4,935 shares during the last quarter. Finally, Bridge City Capital LLC increased its position in shares of YETI by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 50,276 shares of the company’s stock worth $1,938,000 after purchasing an additional 393 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on YETI. Morgan Stanley lifted their target price on YETI from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. TD Cowen lifted their target price on YETI from $38.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Canaccord Genuity Group lifted their target price on YETI from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of YETI in a research report on Friday, May 10th. Finally, Raymond James lifted their target price on YETI from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, YETI has a consensus rating of “Hold” and a consensus target price of $46.80.

YETI Price Performance

YETI stock opened at $37.24 on Thursday. The business has a 50 day moving average price of $39.27 and a 200 day moving average price of $41.42. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.13 and a beta of 2.14. YETI Holdings, Inc. has a fifty-two week low of $33.88 and a fifty-two week high of $54.15. The company has a quick ratio of 1.14, a current ratio of 2.35 and a debt-to-equity ratio of 0.12.

YETI (NYSE:YETI) last posted its earnings results on Thursday, May 9th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.07. The firm had revenue of $341.39 million during the quarter, compared to analysts’ expectations of $333.79 million. YETI had a return on equity of 28.81% and a net margin of 10.32%. Equities research analysts anticipate that YETI Holdings, Inc. will post 2.35 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.