YETI (Update)

YETI Holdings Inc

Consumer


Presented:04/04/2024
Price:$37.91
Cap:$3.30B
Current Price:$41.39
Cap:$3.50B

Presented

Date04/04/2024
Price$37.91
Market Cap$3.30B
Ent Value$4.28B
P/E Ratio19.54x
Book Value$8.33
Div Yield0%
Shares O/S86.93M
Ave Daily Vol1,662,600
Short Int19.16%

Current

Price$41.39
Market Cap$3.50B
YETI Holdings, Inc. engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J. Seiders and Ryan R. Seiders in 2006 and is headquartered in Austin, TX.

Publicly traded companies mentioned herein: DICK'S Sporting Goods Inc (DKS), Helen of Troy (HELE), SharkNinja Inc. (SN), Stanley Black & Decker Inc (SWK), YETI Holdings Inc (YETI), 

Highlights

The presenter continues to be short shares of YETI Holdings Inc (YETI), emphasizing the company's declining market position in the drinkware industry. YETI, formerly a lifestyle brand, has shifted focus primarily to drinkware and coolers, which have seen growing pains more recently. The presenters point to inventory struggles, reduced shelf space, and increased discounting as indicators of YETI's weakening market position. The presenter expects heightened competition and changing consumer preferences to weigh on the stock creating the potential for further earnings misses going forward. As such he sees YETI's fair value at 12X his FY24 EPS of $2.38 creating 25% downside, with the potential for more if demand really cracks.

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Idea Discussion

Commentor 1 - 2 weeks ago

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