Here’s Why Polen Capital Keeps a Positive Outlook on YETI
Polen Capital, an investment management firm, released its "U.S. Small Company Growth Fund" third quarter 2023 investor letter, a copy of which can be downloaded here. In the third quarter, the U.S. Small Company Growth Composite Portfolio, referred to as the "Portfolio," posted returns of -3.66% gross and -3.97% net of fees. This performance is in contrast to the -7.32% return of the Russell 2000 Growth Index, known as the "Index." Take a moment to review the fund's top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Polen U.S. Small Company Growth mentioned YETI Holdings, Inc. (NYSE:YETI) and explained its insights for the company. YETI Holdings, Inc. (NYSE:YETI) is an Austin, Texas-based outdoor consumer goods company with a $3.7 billion market capitalization. YETI Holdings, Inc. (NYSE:YETI) delivered a 5.59% return since the beginning of the year, while its 12-month returns are up by 38.34%. The stock closed at $43.62 per share on November 3, 2023.
Here is what Polen U.S. Small Company Growth has to say about YETI Holdings, Inc. (NYSE:YETI) in its Q3 2023 investor letter:
"Yeti, an outdoor and lifestyle brand known for its coolers and drinkware, was also a significant contributor. Yeti delivered better-than-expected quarterly results after navigating a voluntary product recall that negatively impacted earnings. The company continues to navigate a challenging period, but we believe this is temporary. Our long-term outlook for the business is unchanged."
A hiker in a forest with a backpack of outdoor equipment highlighting the company's lifestyle products.
Our calculations show that YETI Holdings, Inc. (NYSE:YETI) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. YETI Holdings, Inc. (NYSE:YETI) was in 25 hedge fund portfolios at the end of the second quarter of 2023, compared to 17 funds in the previous quarter. YETI Holdings, Inc. (NYSE:YETI) delivered a 5.64% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
