Traders Purchase High Volume of Yeti Put Options (YETI)

Yeti Holdings Inc (NYSE:YETI) saw some unusual options trading activity on Wednesday. Stock investors bought 2,841 put options on the stock. This is an increase of approximately 2,173% compared to the typical volume of 125 put options.

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. bought a new stake in Yeti during the fourth quarter valued at approximately $30,000. Legal & General Group Plc bought a new stake in Yeti during the fourth quarter valued at approximately $40,000. NumerixS Investment Technologies Inc bought a new stake in Yeti during the fourth quarter valued at approximately $43,000. Joseph P. Lucia & Associates LLC bought a new stake in Yeti during the first quarter valued at approximately $100,000. Finally, Trustcore Financial Services LLC bought a new stake in Yeti during the first quarter valued at approximately $102,000. Institutional investors and hedge funds own 22.87% of the company’s stock.

Shares of Yeti stock opened at $29.04 on Thursday. Yeti has a 1 year low of $12.40 and a 1 year high of $36.60. The company has a market cap of $2.42 billion and a price-to-earnings ratio of 37.23.

Yeti (NYSE:YETI) last announced its earnings results on Thursday, May 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. The company had revenue of $155.40 million for the quarter, compared to the consensus estimate of $143.20 million. The company’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts anticipate that Yeti will post 0.92 EPS for the current year.

YETI has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on shares of Yeti from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Bank of America reaffirmed a “buy” rating and set a $25.00 price objective on shares of Yeti in a research note on Tuesday, March 19th. Stifel Nicolaus boosted their price objective on shares of Yeti from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, March 8th. Morgan Stanley cut shares of Yeti from an “overweight” rating to an “equal weight” rating and set a $30.75 price objective for the company. in a research note on Friday, March 29th. They noted that the move was a valuation call. Finally, Goldman Sachs Group cut shares of Yeti from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $31.00 to $33.00 in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $27.61.

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Yeti Company Profile

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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