State of New Jersey Common Pension Fund D Boosts Stake in YETI Holdings, Inc. (NYSE:YETI)

State of New Jersey Common Pension Fund D grew its stake in shares of YETI Holdings, Inc. (NYSE:YETI) by 13.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,266 shares of the company’s stock after acquiring an additional 6,838 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of YETI worth $3,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of YETI. Baillie Gifford & Co. grew its position in shares of YETI by 53.0% during the 4th quarter. Baillie Gifford & Co. now owns 9,416,441 shares of the company’s stock valued at $487,583,000 after acquiring an additional 3,260,704 shares during the period. Bank of New York Mellon Corp boosted its holdings in YETI by 144.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,863,611 shares of the company’s stock worth $89,863,000 after buying an additional 1,099,929 shares during the period. Lord Abbett & CO. LLC boosted its holdings in YETI by 97.3% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,517,821 shares of the company’s stock worth $73,189,000 after buying an additional 748,671 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in YETI by 585.0% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 661,040 shares of the company’s stock worth $31,875,000 after buying an additional 564,540 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in YETI by 196.5% in the 3rd quarter. Victory Capital Management Inc. now owns 595,614 shares of the company’s stock worth $28,721,000 after buying an additional 394,744 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently commented on YETI. Canaccord Genuity Group downgraded shares of YETI from a “buy” rating to a “hold” rating and raised their price objective for the stock from $49.00 to $50.00 in a report on Thursday, January 4th. Raymond James cut their price objective on shares of YETI from $55.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Canaccord Genuity Group cut their price target on shares of YETI from $41.00 to $40.00 and set a “hold” rating for the company in a report on Friday, April 5th. Stifel Nicolaus cut their price target on shares of YETI from $43.00 to $41.00 and set a “hold” rating for the company in a report on Friday, February 16th. Finally, KeyCorp raised their price target on shares of YETI from $33.00 to $36.00 and gave the company an “underweight” rating in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, YETI currently has an average rating of “Hold” and a consensus target price of $48.00.

YETI Stock Performance

YETI stock opened at $36.15 on Friday. The firm’s fifty day moving average price is $38.13 and its 200-day moving average price is $42.62. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.45 and a current ratio of 2.30. The stock has a market cap of $3.08 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 1.42 and a beta of 2.29. YETI Holdings, Inc. has a fifty-two week low of $34.70 and a fifty-two week high of $54.15.

YETI (NYSE:YETI) last issued its earnings results on Thursday, February 15th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). The business had revenue of $519.79 million during the quarter, compared to analysts’ expectations of $535.99 million. YETI had a return on equity of 27.99% and a net margin of 10.24%. YETI’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. On average, equities research analysts expect that YETI Holdings, Inc. will post 2.27 earnings per share for the current fiscal year.

YETI 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.