State Board of Administration of Florida Retirement System lifted its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 221.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,406 shares of the company’s stock after acquiring an additional 63,004 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of YETI worth $8,393,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of YETI. IndexIQ Advisors LLC bought a new stake in shares of YETI during the first quarter worth $32,000. Credit Agricole S A bought a new stake in shares of YETI during the second quarter worth $32,000. Exchange Traded Concepts LLC bought a new stake in shares of YETI during the second quarter worth $41,000. Optimum Investment Advisors bought a new stake in shares of YETI during the second quarter worth $46,000. Finally, Huntington National Bank increased its position in shares of YETI by 186.8% during the second quarter. Huntington National Bank now owns 499 shares of the company’s stock worth $46,000 after acquiring an additional 325 shares in the last quarter. 94.29% of the stock is owned by institutional investors.
In related news, CEO Matthew J. Reintjes sold 25,000 shares of YETI stock in a transaction that occurred on Monday, July 12th. The shares were sold at an average price of $92.34, for a total transaction of $2,308,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kirk A. Zambetti sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $101.81, for a total transaction of $305,430.00. Following the sale, the senior vice president now directly owns 20,557 shares in the company, valued at $2,092,908.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,783 shares of company stock worth $4,205,141. Insiders own 3.10% of the company’s stock.
YETI (NYSE:YETI) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.14. YETI had a net margin of 15.73% and a return on equity of 66.59%. As a group, analysts predict that YETI Holdings, Inc. will post 2.34 EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. BNP Paribas assumed coverage on shares of YETI in a research report on Monday, June 14th. They issued an “outperform” rating and a $115.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of YETI in a research report on Wednesday, July 14th. They issued a “buy” rating and a $113.00 target price for the company. TheStreet raised shares of YETI from a “c” rating to a “b-” rating in a research report on Tuesday, July 6th. Berenberg Bank set a $103.00 target price on shares of YETI in a research report on Saturday, August 21st. Finally, Credit Suisse Group raised their target price on shares of YETI from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, YETI presently has an average rating of “Buy” and a consensus target price of $106.21.
YETI Holdings, Inc engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J.
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