Do You Think the Long-Term Outlook for YETI Holdings (YETI) is Attractive?
Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned 1.44% net of fees in the third quarter compared to -0.12% return for the Russell 2500 Growth Index. Stock selection is a significant factor in the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital discussed stocks like YETI Holdings, Inc. (NYSE:YETI) in the Q3 2022 investor letter. Headquartered in Austin, Texas, YETI Holdings, Inc. (NYSE:YETI) is an outdoor recreation products distributor. On October 26, 2022, YETI Holdings, Inc. (NYSE:YETI) stock closed at $32.58 per share. One-month return of YETI Holdings, Inc. (NYSE:YETI) was 12.50% and its shares lost 65.76% of their value over the last 52 weeks. YETI Holdings, Inc. (NYSE:YETI) has a market capitalization of $2.808 billion.
Polen Capital made the following comment about YETI Holdings, Inc. (NYSE:YETI) in its Q3 2022 investor letter:
“The most significant absolute detractors from the Portfolio’s performance over the quarter included YETI Holdings, Inc. (NYSE:YETI), Goosehead Insurance, and Dynatrace.
Yeti, a maker of premium outdoor/lifestyle products, reported weaker-than-expected results driven by channel and product mix shifts in the period that pressured margins, and an uncertain macro environment led the company to reduce its outlook for the remainder of the year as it works through inventory challenges. We remain positive on the long-term outlook for Yeti and have maintained our position amidst these shorter-term headwinds.”
Photo by Blake Wisz on Unsplash
YETI Holdings, Inc. (NYSE:YETI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held YETI Holdings, Inc. (NYSE:YETI) at the end of the second quarter which was 25 in the previous quarter.
We discussed YETI Holdings, Inc. (NYSE:YETI) in another article and shared the list of retail stocks that Jim Duffy at Stifel is bearish on. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
