Truist Financial Corp Sells 19,999 Shares of YETI Holdings, Inc. $YETI

Truist Financial Corp trimmed its position in shares of YETI Holdings, Inc. (NYSE:YETI) by 51.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,224 shares of the company’s stock after selling 19,999 shares during the quarter. Truist Financial Corp’s holdings in YETI were worth $638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westwood Holdings Group Inc. lifted its holdings in shares of YETI by 110.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,507,921 shares of the company’s stock worth $79,050,000 after acquiring an additional 1,314,878 shares during the last quarter. Norges Bank bought a new stake in YETI in the second quarter worth about $32,995,000. Engaged Capital LLC lifted its stake in YETI by 40.1% in the second quarter. Engaged Capital LLC now owns 2,162,518 shares of the company’s stock worth $68,163,000 after purchasing an additional 619,000 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of YETI during the second quarter valued at approximately $19,285,000. Finally, William Blair Investment Management LLC bought a new position in shares of YETI during the second quarter valued at approximately $16,960,000.

YETI Stock Performance

YETI stock opened at $47.38 on Thursday. YETI Holdings, Inc. has a 1-year low of $26.61 and a 1-year high of $51.29. The business has a 50-day moving average price of $46.26 and a 200 day moving average price of $39.37. The company has a market capitalization of $3.69 billion, a P/E ratio of 24.68, a PEG ratio of 2.59 and a beta of 1.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.16 and a quick ratio of 1.16.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on YETI shares. Morgan Stanley set a $48.00 price target on YETI in a research note on Friday, January 16th. KeyCorp upgraded YETI from a “sector weight” rating to an “overweight” rating and set a $57.00 target price on the stock in a research note on Friday, January 16th. The Goldman Sachs Group reissued a “neutral” rating and set a $45.00 target price on shares of YETI in a research note on Tuesday, January 27th. Canaccord Genuity Group raised their price target on shares of YETI from $37.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Finally, B. Riley Financial reissued a “neutral” rating and issued a $35.00 price objective (up from $32.00) on shares of YETI in a research report on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.42.

Insider Activity at YETI

In other news, SVP Bryan C. Barksdale sold 9,756 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $45.32, for a total value of $442,141.92. Following the completion of the sale, the senior vice president owned 56,397 shares of the company’s stock, valued at approximately $2,555,912.04. This represents a 14.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.94% of the company’s stock.

YETI Profile

YETI Holdings, Inc is an American outdoor and lifestyle products company known for its premium, performance-driven coolers, drinkware and accessories. The company’s portfolio includes hard coolers under its flagship Tundra series, soft coolers in the Hopper line, and vacuum-insulated drinkware sold under the Rambler brand. YETI’s products are engineered for durability, temperature retention and rugged outdoor use, targeting consumers ranging from avid anglers and hunters to outdoor enthusiasts and everyday users seeking high-quality insulated containers.

Founded in 2006 by brothers Roy and Ryan Seiders in Austin, Texas, YETI began with a focus on building a better cooler that could withstand extreme conditions and maintain ice retention longer than traditional alternatives.