Catalyst Capital Advisors LLC, a financial investment firm, has recently decreased its holdings in YETI Holdings, a leading consumer products company. According to a disclosure made with the Securities & Exchange Commission, Catalyst Capital Advisors LLC sold 9,500 shares of YETI Holdings during the first quarter of the fiscal year 2023. As a result, the firm now owns 6,200 shares of the company’s stock, which is equivalent to a decrease of 60.5%. At the end of the most recent quarter, these remaining shares were valued at $248,000.
YETI Holdings (NYSE:YETI) released its quarterly earnings report on Thursday, August 10th. The company announced an earnings per share (EPS) of $0.51 for the quarter, surpassing analyst expectations by $0.09. The actual revenue for the quarter was reported as $402.56 million, slightly lower than analyst estimates of $410.70 million.
The net margin for YETI stood at 4.19% during this period with a return on equity of 31.03%. It is worth noting that analysts predict YETI Holdings will generate earnings per share amounting to $2.06 for the current fiscal year.
These recent developments have prompted investors and industry analysts to closely monitor YETI’s performance and prospects within the consumer products sector.
While Catalyst Capital Advisors LLC decision to reduce its holdings may raise questions about their confidence in YETI’s future growth potential, it is important to consider that investment strategies are subject to various factors and market conditions.
As we continue to track YETI’s progress in light of these recent financial disclosures, it is crucial for investors and stakeholders to conduct thorough analysis and due diligence before making any significant investment decisions.
To stay updated on all developments related to YETI Holdings and its performance within the consumer products industry please refer to our latest analysis report.
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YETI Holdings Inc.: Hedge Fund Moves, Financial Metrics, and Analyst Opinions
YETI Holdings, Inc. has recently witnessed changes in the positions of various hedge funds and investment management firms. Wellington Management Group LLP increased its holdings in YETI by 2.9% during the first quarter, acquiring an additional 245,995 shares and now owning a total of 8,585,776 shares valued at $343,431,000. BlackRock Inc. also boosted its position in YETI during the same quarter by 2.4%, accumulating an additional 180,218 shares and now holding a total of 7,759,032 shares valued at $310,361,000.
Meanwhile, Vanguard Group Inc. saw a growth of 0.7% in its position in YETI during the third quarter after acquiring an additional 53,886 shares. This brings their total holdings to 7,556,216 shares valued at $215,503,000. Capital World Investors increased its stake in YETI by a significant margin of 23.4% during the first quarter by acquiring an additional 1,376,536 shares with a current value of $435,865,000.
Adding to these changes is Wasatch Advisors LP that raised its holdings in YETI by 12.6% during the first quarter as they acquired an additional 564,483 shares bringing their total to 5,0600,,554 shares worth $202-422-000 [do any hedge fund owns (569 -564) =5?]-.
On September 10th., YETI stock opened at $47.29 indicating relatively stable performance despite recent changes in hedge fund positions for this publicly traded company that specializes outdoor equipment such as coolers and related accessories.
When examining some key financial metrics for YETI Holdings Inc., we find that the company has a quick ratio of 1.16 and a current ratio of 2.09. Additionally, the company’s debt-to-equity ratio stands at 0.14, which suggests moderate financial leverage. YETI carries a market capitalization of $4.10 billion and a price-to-earnings ratio of 62.22, reflecting the stock’s current valuation in relation to its earnings per share.
Furthermore, the price-to-earnings growth (P/E/G) ratio for YETI is 2.45, indicating that the stock may be slightly overvalued relative to its expected future earnings growth.
YETI Holdings Inc.’s stock has displayed notable volatility as depicted by its beta value of 2.42, indicating that it tends to move more than the overall market average.
Over the past year, YETI experienced a range in stock prices swinging between its 12-month low of $27.86 and a 12-month high of $51.27, illustrating fluctuations in investor sentiment and market conditions throughout this period.
In recent news related to YETI’s financial activities, Chief Financial Officer Michael John McMullen sold 2,460 shares on August 30th at an average price of $48.08 per share. This transaction had a total value of $118,276.80.
Following this sale, McMullen now holds approximately 36,949 shares valued at around $1,776,507.92 as indicated by his disclosure filed with the Securities and Exchange Commission (SEC).
Currently rated “Hold” by analysts with an average consensus target price of $50.53 per share according to Bloomberg data [is there any new rate for September or beyond], YETI has garnered mixed reviews from research analysts in recent times.
These opinions range from positive stance taken by Piper Sandler that raised their price objective from $55 to $57 with an “overweight” rating on August 11th., and Raymond James firm also raising their target price from $48.00 to $55.00 with an “outperform” rating on the same day.
On the other hand, KeyCorp downgraded YETI’s rating from “sector weight” to “underweight” and set a price objective of $34.00 for the company on July 17th, expressing a more cautious outlook.
Robert W. Baird assigned an “outperform” rating on YETI’s stock with a target price increase from $55.00 to $60.00 on August 11th., while Roth Mkm reiterated a “neutral” rating and provided a target price of $46.00 on August 16th.
Overall, the sentiment surrounding YETI Holdings Inc.’s stock seems divided among analysts, reflecting uncertainty regarding the company’s future performance and growth prospects in the market.
These recent changes in hedge fund positions, coupled with fluctuations in stock prices and analyst opinions, have added intricacy to the perplexing world of investment decisions for those following YETI Holdings Inc.’s progress in the market. As investors continue to evaluate these factors amidst ever-changing financial landscapes, their ultimate investment choices are poised to shape YETI’s trajectory in the foreseeable future.
