Here’s a Reason to Keep on Buying YETI Holdings (YETI) Shares

Artisan Partners, a high value-added investment management firm, published its ‘Artisan Mid Cap Fund’ fourth quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.72% was recorded by its Investor Class: ARTMX, -0.68% by its Advisor Class: APDMX, and -0.66% by its Institutional Class: APHMX, in the fourth quarter of 2021, all underperforming the Russell Midcap® Growth Index that delivered a 2.85% return, and the Russell Midcap® Index that was up by 6.44% for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Artisan Mid Cap Fund, in its Q4 2021 investor letter, mentioned YETI Holdings, Inc. (NYSE: YETI) and discussed its stance on the firm. YETI Holdings, Inc. is an Austin, Texas-based outdoor recreation products manufacturer with a $5.1 billion market capitalization. YETI delivered a -29.07% return since the beginning of the year, while its 12-month returns are down by -18.03%. The stock closed at $58.75 per share on February 22, 2022.

Here is what Artisan Mid Cap Fund has to say about YETI Holdings, Inc. in its Q4 2021 investor letter:

“YETI is a manufacturer of premium outdoor recreation products, including coolers and equipment, drinkware, and brand apparel and accessories. The company’s growth has remained solid despite some temporary supply chain pressures. We view the brand’s long-term growth potential as attractive—with potential to increase share in core product lines, enter additional categories and expand its
international presence—and we used Q4’s growth stock selloff as an opportunity to add to our position.”

Olesia Bilkei/Shutterstock.com

Our calculations show that YETI Holdings, Inc. (NYSE: YETI) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. YETI was in 28 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 29 funds in the previous quarter. YETI Holdings, Inc. (NYSE: YETI) delivered a -41.15% return in the past 3 months.

In May 2021, we also shared another hedge fund’s views on YETI in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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