Principal Financial Group Inc. Sells 109,376 Shares of YETI Holdings, Inc. (NYSE:YETI)

Principal Financial Group Inc. lessened its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,522 shares of the company’s stock after selling 109,376 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of YETI worth $13,356,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC raised its position in shares of YETI by 7.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 810,182 shares of the company’s stock worth $33,242,000 after purchasing an additional 53,023 shares during the last quarter. Franklin Resources Inc. purchased a new position in YETI in the third quarter worth about $626,000. Cim Investment Management Inc. bought a new position in shares of YETI in the third quarter worth approximately $203,000. Wilmington Savings Fund Society FSB bought a new stake in shares of YETI during the third quarter valued at approximately $38,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of YETI by 3.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 151,886 shares of the company’s stock valued at $6,231,000 after acquiring an additional 5,650 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have commented on YETI. Canaccord Genuity Group reissued a “hold” rating and issued a $44.00 target price on shares of YETI in a report on Thursday, November 14th. Piper Sandler reiterated an “overweight” rating and issued a $54.00 price objective (down from $55.00) on shares of YETI in a report on Friday, November 8th. Bank of America downgraded shares of YETI from a “buy” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $40.00 in a report on Wednesday, November 6th. Finally, TD Cowen decreased their price objective on shares of YETI from $46.00 to $44.00 and set a “hold” rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.46.

YETI Stock Performance

NYSE:YETI opened at $39.35 on Friday. The stock has a 50-day simple moving average of $39.44 and a two-hundred day simple moving average of $39.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.45 and a current ratio of 2.58. YETI Holdings, Inc. has a 52-week low of $33.41 and a 52-week high of $53.28. The firm has a market capitalization of $3.34 billion, a PE ratio of 16.89, a P/E/G ratio of 1.37 and a beta of 2.15.

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.