Oak Ridge Investments LLC bought a new stake in shares of Yeti Holdings Inc (NYSE:YETI) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 404,433 shares of the company’s stock, valued at approximately $12,234,000.
A number of other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. bought a new stake in shares of Yeti in the 4th quarter worth $30,000. Legal & General Group Plc bought a new stake in shares of Yeti in the 4th quarter worth $40,000. NumerixS Investment Technologies Inc bought a new stake in shares of Yeti in the 4th quarter worth $43,000. Advisor Group Inc. bought a new stake in shares of Yeti in the 4th quarter worth $59,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Yeti in the 4th quarter worth $62,000. 20.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Ryan R. Seiders sold 1,176,290 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $28.50, for a total transaction of $33,524,265.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Bryan C. Barksdale sold 9,650 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $28.50, for a total value of $275,025.00. The disclosure for this sale can be found here. Insiders have sold 2,549,150 shares of company stock worth $72,650,775 over the last ninety days. 10.70% of the stock is owned by insiders.
Yeti (NYSE:YETI) last announced its earnings results on Thursday, May 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The company had revenue of $155.40 million for the quarter, compared to analyst estimates of $143.20 million. The firm’s revenue was up 14.9% compared to the same quarter last year. Research analysts anticipate that Yeti Holdings Inc will post 0.95 EPS for the current fiscal year.
A number of analysts have recently commented on the company. Goldman Sachs Group downgraded Yeti from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $31.00 to $33.00 in a research note on Friday, May 3rd. Cowen assumed coverage on Yeti in a research note on Thursday, April 11th. They issued an “outperform” rating and a $35.00 price objective on the stock. Morgan Stanley downgraded Yeti from an “overweight” rating to an “equal weight” rating and set a $30.75 price objective on the stock. in a research note on Friday, March 29th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and issued a $25.00 price objective on shares of Yeti in a research note on Tuesday, March 19th. Finally, Zacks Investment Research reissued a “sell” rating on shares of Yeti in a research note on Saturday, January 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.61.
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YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.
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