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

Norges Bank bought a new position in shares of YETI Holdings, Inc. (NYSE:YETI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 955,030 shares of the company’s stock, valued at approximately $36,778,000. Norges Bank owned 1.13% of YETI at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in YETI by 56.2% in the 3rd quarter. FMR LLC now owns 12,037 shares of the company’s stock worth $494,000 after purchasing an additional 4,329 shares in the last quarter. Captrust Financial Advisors raised its position in shares of YETI by 5.5% in the third quarter. Captrust Financial Advisors now owns 9,472 shares of the company’s stock valued at $389,000 after buying an additional 496 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of YETI by 4.0% in the third quarter. Janus Henderson Group PLC now owns 78,808 shares of the company’s stock valued at $3,234,000 after buying an additional 3,039 shares during the period. Quarry LP grew its position in YETI by 209.8% during the third quarter. Quarry LP now owns 1,927 shares of the company’s stock worth $79,000 after buying an additional 1,305 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in YETI during the 3rd quarter worth $238,000.

YETI Price Performance

Shares of YETI opened at $30.12 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.49 billion, a PE ratio of 14.62, a PEG ratio of 1.05 and a beta of 2.04. YETI Holdings, Inc. has a 12-month low of $28.09 and a 12-month high of $45.25. The business has a 50-day simple moving average of $35.49 and a two-hundred day simple moving average of $37.99.

YETI (NYSE:YETI) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The firm had revenue of $555.37 million during the quarter, compared to analyst estimates of $554.08 million. Analysts anticipate that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.