Michael John McMullen, the Chief Financial Officer of YETI Holdings , Inc. (NYSE:YETI), a company currently valued at $3.75 billion with a P/E ratio of 18.8, recently executed a sale of company shares, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, YETI shows strong financial health with a current ratio of 2.58, indicating robust liquidity. On December 11, McMullen sold 747 shares of YETI common stock at a price of $45 per share, amounting to a total transaction value of $33,615.
This transaction was carried out under a Rule 10b5-1 trading plan, which McMullen adopted on May 30, 2024. Following this sale, McMullen retains ownership of 45,877 shares of YETI stock, which includes 414 shares of restricted stock and 21,456 shares underlying restricted stock units. These restricted shares remain subject to the terms of the applicable award agreements.
In other recent news, Yeti Holdings (NYSE:YETI) Inc. reported a 10% rise in net sales to $478 million in the third quarter, driven by a 30% surge in international sales and strong performance across all product categories. The company's net income rose by 14% to $60 million, and earnings per share increased by 18% to $0.71. Yeti's gross profit saw an 11% uplift, landing at $278 million. Piper Sandler, TD Cowen, and Citi have adjusted their price targets for Yeti due to potential impacts of tariffs on China imports, but maintain a positive outlook on the company's stock. Yeti is working to diversify its supply chain, aiming to have 50% of drinkware capacity outside China by 2025. The company anticipates a 9% sales growth for 2024, focusing on wholesale performance and category growth. Yeti also expects an effective tax rate of about 24.8% for fiscal 2024 and adjusted earnings per share of around $2.65, marking an 18% year-over-year growth.
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