14/02/2025 09:46

YETI Holdings Inc (YETI US) $US37.58

 The beverage-cooler maker’s Q4 results overnight were broadly in line to slightly ahead of expectations, and while guidance was solid, they still see some ongoing challenges in the market.

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04/12/2024 09:34

YETI Holdings (YETI US) $US41.29

1. It’s undervalued for the growth coming through; They’ll grow at ~10% on last year, and that’s the sort of growth YETI will do in the coming years. For context, that’s about twice the growth rate of JB Hi-Fi which trades on 22x and is sitting at all-time time highs, more than 2 standard deviations ‘expensive’ . YETI is trading on 14x, more than 1 standard deviation ‘cheap’ and is 60% below it’s all time high. The stock has been in a funk throughout 2024 though earnings have continued to improve, the business has gotten better, customer love continues to grow.

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08/11/2024 09:18

YETI Holdings (YETI US) $US38.87

After market yesterday, the cooler and drinkware maker reported Q3 results ahead of expectations and raised guidance for its full-year earnings. There is a bit to unpack with YETI, so we’ll cover earnings first then focus on what a Trump Presidency could mean given YETI manufactures in China.

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09/08/2024 09:32

YETI Holdings (YETI US) $US43.12

The maker of high-end coolers (and soon-to-be Skillets!) reported Q2 sales and profits that were nicely ahead of expectations overnight, while they also increased annual guidance, a beat and bump pushing the stock up 16.5%. Our thesis on YETI is about quality, innovation and brand, and the overnight results were great, particularly given it’s been a challenging period for management as they grappled with higher costs.  How a business performs in the tougher times is really important, and YETI has delivered.

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10/05/2024 09:24

YETI Holdings (YETI US) $US39.26

The US based outdoor brand that makes coolers or esky’s as we call them, along with a bunch of other great products was up as much as 20% early on overnight before closing 12.78% higher following a strong beat on quarterly earnings, driven by the trio of stronger sales, better gross margin and lower expenses. They saw very good growth in their international business that made up 19% of sales, the highest proportion ever, while they talked to lower input costs and  ongoing progress in product innovation.

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13/03/2024 09:16

Yeti Holdings (YETI US) $US37.81

The outdoor product company, founded in 2006 and went public in October 2018, has three segments: Coolers & Equipment, Drinkware, and other, comprised of Outerwear & Gear. Everyone seems to love their products, and we certainly do, yet the stock is down ~20% since they reported Q4 earnings towards the end of February.

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11/08/2023 09:21

YETI Holdings (YETI US) $US46.42

Overnight YETI Holdings (YETI US) surged over +20% after the maker of coolers reported 2nd quarter earnings well above expectations and raised its FY guidance. The shares enjoyed their largest jump since 2022 and is now trading around 6 month highs.

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28/02/2023 15:58

International Equities Portfolio – Amendment

We are making a number of changes to the International Equities Portfolio today

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01/02/2023 09:49

Yeti Holdings (YETI US) $43.73

I was in the market for a new esky last year and considered Yeti, a higher-end US brand that makes top-quality coolers. I have a few of their other products and they are simply sensational, albeit with a high price tag. Steve Johnson from Forager Funds recently wrote about buying the stock for their international fund while analysts generally like it, with 10 buys, 5 holds and no sells, and a consensus price target 21% above its current share price. The business started in 2006 but was only listed in 2018. Since listing it’s had impressive growth, and if history is a guide, should increase revenue by more than 10% YoY with earnings set to increase by ~15% or more. But, 2022 bucked this trend with a dip in earnings and a big re-rate lower in the multiple the market was prepared to pay for this outdoor brand, and the stock fell ~70% from its all-time high around $US107 down to a ~$US30. We ask ourselves, is this now a ‘buy’?

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