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Artisan Partners is Optimistic in YETI Holdings Inc. (YETI), Here’s Why

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Artisan Partners, a high value-added investment management firm, published its ‘Artisan Mid Cap Fund’ first quarter 2021 investor letter – a copy of which can be downloaded here. A return of -2.36% was recorded by its Investor Class: ARTMX, -2.32% by its Advisor Class: APDMX, and -2.30% by its Institutional Class: APHMX, in the fourth quarter of 2020, all below the Russell Midcap® Growth Index that delivered a -0.57% return and the Russell Midcap® Index that was up by 8.14% for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Artisan Mid Cap Fund, in its Q1 2021 investor letter, mentioned YETI Holdings, Inc. (NYSE: YETI), and shared their insights on the company. YETI Holdings, Inc. is an Austin, Texas-based outdoor manufacturer company that currently has a $7.6 billion market capitalization. Since the beginning of the year, YETI delivered a 28.68% return, extending its 12-month gains to 211.12%. As of May 06, 2021, the stock closed at $88.11 per share.

Here is what Artisan Mid Cap Fund has to say about YETI Holdings, Inc. in its Q1 2021 investor letter:

"We started new investment campaigns in YETI. YETI is a manufacturer of premium outdoor recreation products, including coolers and equipment, drinkware, and brand apparel and accessories. The company got its start in 2006 selling premium coolers to the hunting and fishing communities which were frustrated with equipment unable to stand up to their needs. Years later, YETI expanded into premium drinkware. These two product categories make up nearly 90% of the company’s sales today, but we see opportunities for YETI to extend its brand into additional categories over time. In addition, we believe an opportunity to increase brand awareness both domestically and internationally makes for a compelling profit cycle ahead. We used the pullback in the quarter to initiate a GardenSM position."

Outdoor
Outdoor

Our calculations show that YETI Holdings, Inc. (NYSE: YETI) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, YETI Holdings, Inc. was in 19 hedge fund portfolios, compared to 29 funds in the third quarter. YETI delivered a 22.26% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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Disclosure: None. This article is originally published at Insider Monkey.