Do You Think YETI Holdings (YETI) is a Growing Company?

Wasatch Global Investors, an asset management company, released its “Wasatch U.S. Select Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy slightly underperformed its benchmark, the Russell 3000Growth Index, which declined -3.37% in the quarter. The stock price weakness in the sector holdings of consumer-discretionary and health care dragged the strategy’s performance in the quarter, while the investments in information technology (IT) sector performed strongly and contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Global Investors highlighted stocks like YETI Holdings, Inc. (NYSE:YETI) in the Q3 2022 investor letter. Headquartered in Austin, Texas, YETI Holdings, Inc. (NYSE:YETI) engages in the business of outdoor and recreation products. On December 9, 2022, YETI Holdings, Inc. (NYSE:YETI) stock closed at $44.66 per share. One-month return of YETI Holdings, Inc. (NYSE:YETI) was 1.16%, and its shares lost 48.87% of their value over the last 52 weeks. YETI Holdings, Inc. (NYSE:YETI) has a market capitalization of $3.852 billion.

Wasatch Global Investors made the following comment about YETI Holdings, Inc. (NYSE:YETI) in its Q3 2022 investor letter:

“YETI Holdings, Inc. (NYSE:YETI) was another detractor. The company reported strong growth for the first half of 2022, with revenues up 18% from the first six months of last year. However, the stock was down after management noted that rising operating costs, largely tied to higher shipping and logistics costs, were affecting profitability. An announcement that the CFO was stepping down also weighed on the stock. Despite the near-term issues, we continue to like the company. YETI designs and distributes coolers, beverage holders, seat cushions and other outdoor recreational gear. We believe the company has plenty of headroom to grow as its name recognition increases and more consumers come to appreciate the durability of its products.”

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YETI Holdings, Inc. (NYSE:YETI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held YETI Holdings, Inc. (NYSE:YETI) at the end of the third quarter, which was 18 in the previous quarter.

We discussed YETI Holdings, Inc. (NYSE:YETI) in another article and shared Polen Capital’s views on the company. 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.