Ocean Capital Management LLC Raises Holdings in Yeti Holdings Inc (NYSE:YETI)

Ocean Capital Management LLC grew its position in shares of Yeti Holdings Inc (NYSE:YETI) by 62.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,292 shares of the company’s stock after purchasing an additional 8,592 shares during the period. Ocean Capital Management LLC’s holdings in Yeti were worth $645,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Yeti in the second quarter worth about $25,000. Lee Financial Co purchased a new position in Yeti in the second quarter worth about $26,000. Mark Sheptoff Financial Planning LLC purchased a new position in Yeti in the first quarter worth about $45,000. Meridian Wealth Management LLC purchased a new position in Yeti in the second quarter worth about $53,000. Finally, Legal & General Group Plc purchased a new position in Yeti in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 27.23% of the company’s stock.

NYSE YETI traded down $0.65 during trading on Thursday, hitting $27.40. The stock had a trading volume of 21,916 shares, compared to its average volume of 1,653,013. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.58 and a quick ratio of 0.66. The stock has a market cap of $2.38 billion and a PE ratio of 35.27. Yeti Holdings Inc has a one year low of $12.40 and a one year high of $38.11. The firm’s 50 day moving average price is $31.66.

Yeti (NYSE:YETI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The business had revenue of $231.70 million during the quarter, compared to the consensus estimate of $226.22 million. Yeti had a net margin of 8.08% and a return on equity of 333.94%. The business’s revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Yeti Holdings Inc will post 0.96 EPS for the current fiscal year.

Several research analysts recently commented on YETI shares. Goldman Sachs Group lowered Yeti from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $31.00 to $33.00 in a research report on Friday, May 3rd. Raymond James lifted their price target on Yeti from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research lowered Yeti from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $29.16.

Yeti 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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Institutional Ownership by Quarter for Yeti (NYSE:YETI)

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