Wellington Management Co. LLP recently announced the acquisition of new stake in YETI Holdings Inc. (NYSE:YETI). The institutional investor has increased its shareholding in the Consumer Cyclical company by 5.07% to 9.52 million shares with purchase of 0.46 million shares. This fresh investment now brings its stake to 10.95% valued currently at $406.84 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.15 million to 4.97 million shares. And Macquarie Investment Management B. has lifted its position by 18.69% or 0.59 million shares – to 3.74 million shares.
With over 0.85 million YETI Holdings Inc. (YETI) shares trading Tuesday and a closing price of $45.42 on the day, the dollar volume was approximately $38.55 million. The shares have shown a negative weekly performance of -0.74% and its price on 07/28/20 lost nearly -2.55%. Currently, there are 86.83M common shares owned by the public and among those 77.90M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for YETI have a consensus price objective of $42.29. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $26.00 should the stock experience a downside. Incidentally, analysts’ outlook for the YETI Holdings Inc. stock is 1.90 for the next 12 months. The average price target is -7.4% below its last price level and a downside to the estimated low will see the stock lose -74.69% over that period. But an upside of 24.3% will see the stock hit the forecast high price target while mean target price for the stock is $42.50.
Insiders at the company have transacted a total of 87 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 29 of these insider trades were purchases, accounting for 356,504 shares. Insider sales of the common stock occurred on 58 occasions, with total insider shares sold totaling 24,431,806 shares.
The top 3 mutual fund holders in YETI Holdings Inc. are American Funds Small Cap World Fu, Hartford Mid Cap Fund, and iShares Core S&P Small Cap ETF. American Funds Small Cap World Fu owns 5.1 million shares of the company’s stock, all valued at over $218.14 million. The company bought an additional 0.31 million shares recently to bring their total holdings to about 5.87% of the shares outstanding. Hartford Mid Cap Fund bought 0.61 million shares to see its total holdings expand to 4.67 million shares valued at over $199.59 million and representing 5.37% of the shares outstanding. iShares Core S&P Small Cap ETF now owns shares totaling to 4.76% of the shares outstanding.
Shares of YETI Holdings Inc. (NYSE: YETI) opened at $46.40, down -$0.21 from a prior closing price of $46.61. However, the script later closed the day at $45.42, down -2.55%. The company’s stock has a 5-day price change of -0.74% and 70.30% over the past three months. YETI shares are trading 30.59% year to date (YTD), with the 12-month market performance up to 24.99% higher. It has a 12-month low price of $15.28 and touched a high of $47.96 over the same period. Currently, 0.85 million shares have been traded, compared to an average intraday trading volume of 1.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.07%, 18.08%, and 43.32% respectively.
Institutional ownership of YETI Holdings Inc. (NYSE: YETI) shares accounts for 93.60% of the company’s 86.83M shares outstanding. Mutual fund holders own 56.65%, while other institutional holders and individual stakeholders account for 56.83% and 13.84% respectively.
It has a market capitalization of $4.01B. The stock’s trailing 12-month PE ratio is 69.24, while the earnings-per-share (ttm) stands at $0.66. The company has a PEG of 3.46 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 2.61. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.18% over the week and 3.76% over the month.
Analysts forecast that YETI Holdings Inc. (YETI) will achieve an EPS of $0.15 for the current quarter, $0.27 for the next quarter and $1.37 for 2021. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.26. Comparatively, EPS for the current quarter was $0.33 a year ago. Earnings per share for the fiscal year are expected to decrease by -15.50%, and 33.66% over the next financial year. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 28.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate YETI Holdings Inc. (YETI) as a “Strong Buy” at a consensus score of 1.90. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 4 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the YETI, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on July 07, 2020, with the firm’s price target at $31-$40. BTIG Research coverage for the YETI Holdings Inc. (YETI) stock in a research note released on April 29, 2020 offered a Buy rating with a price target of $30. Stifel was of a view on April 17, 2020 that the stock is Hold, while ROTH Capital gave the stock Neutral rating on April 15, 2020, issuing a price target of $37- $27. Citigroup on their part issued Buy rating on March 03, 2020.