Raymond James & Associates lessened its stake in shares of Yeti Holdings Inc (NYSE:YETI) by 37.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 64,706 shares of the company’s stock after selling 38,623 shares during the period. Raymond James & Associates owned about 0.08% of Yeti worth $1,957,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in YETI. Raymond James Financial Services Advisors Inc. bought a new stake in Yeti during the first quarter valued at about $355,000. First Mercantile Trust Co. boosted its holdings in Yeti by 5.9% during the first quarter. First Mercantile Trust Co. now owns 8,470 shares of the company’s stock valued at $256,000 after acquiring an additional 475 shares during the period. Systematic Financial Management LP bought a new stake in Yeti during the first quarter valued at about $225,000. Telemus Capital LLC bought a new stake in Yeti during the first quarter valued at about $575,000. Finally, Joseph P. Lucia & Associates LLC bought a new stake in Yeti during the first quarter valued at about $100,000. Institutional investors own 26.95% of the company’s stock.
In other Yeti news, Director Roy J. Seiders sold 1,319,302 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total value of $37,600,107.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan C. Barksdale sold 9,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total transaction of $275,025.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,549,150 shares of company stock valued at $72,650,775. 10.70% of the stock is currently owned by company insiders.
YETI has been the subject of several research reports. Morgan Stanley cut shares of Yeti from an “overweight” rating to an “equal weight” rating and set a $30.75 target price for the company. in a research note on Friday, March 29th. They noted that the move was a valuation call. Goldman Sachs Group cut shares of Yeti from a “buy” rating to a “neutral” rating and increased their target price for the company from $31.00 to $33.00 in a research note on Friday, May 3rd. Cowen initiated coverage on shares of Yeti in a research note on Thursday, April 11th. They issued an “outperform” rating and a $35.00 target price for the company. Bank of America reiterated a “buy” rating and issued a $25.00 target price on shares of Yeti in a research note on Tuesday, March 19th. Finally, Jefferies Financial Group increased their target price 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.61.
NYSE YETI opened at $26.12 on Thursday. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.54 and a quick ratio of 0.59. The company has a market cap of $2.19 billion and a PE ratio of 33.49. Yeti Holdings Inc has a 1-year low of $12.40 and a 1-year high of $36.60.
Yeti (NYSE:YETI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The company had revenue of $155.40 million during the quarter, compared to analyst estimates of $143.20 million. Yeti’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts predict that Yeti Holdings Inc will post 0.95 earnings per share for the current year.
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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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