4/9/26 - $yeti - AI-immune... 5% yield... growerYETI Holdings, Inc.NYSE:YETIVROCKSTAR4/9/26 :: VROCKSTAR :: YETI AI-immune... 5% yield... grower - about two weeks ago i went through all my alerts, re-ordered my watchlists and narrowed down "what do i care about if/when things really hit the fan and i am forced to react and don't want to be thinking" - YETI keeps coming back as one of the more interesting consumer names - in an AI-gone-wild scenario we'll have a lot people touching grass... - this is such a great brand. everything i've bought from yeti over the years (except the ice packs... which suck) are just quality all around. the opposite of everything else. #metoo copies just aren't the same - and when i look at google trends... this thing seems to be chugging along quite well https://trends.google.com/trends/explore?date=2025-01-01%202025-12-31,2024-01-01%202024-12-31,2023-01-01%202023-12-31,2022-01-01%202022-12-31,2026-01-01%202026-12-31&geo=,,,,&q=yeti,yeti,yeti,yeti,yeti&hl=en - frankly i like the mgmt - the valuation at about 8x ebtida for ebitda growing HSD and the trends looking decent and not AI-exposed is great - ex SBC and at the bottom end of the range you're at $150mm in FCF (though i think it's probably closer to $170 this year) on $2.8B EV and that's .15/2.8 = over 5% fcf yield adj. which is better than treasuries. - and i can sell 5/15's at $37.5c strike for $2 so collect 5% on top of this for hardly over a month... while i just sit on my hands - the idea here being... i do think this thing is worth more. the headline driven nonsense is just too hard to trade (i don't really trade, at least willingly, anyway), so i'm looking for spaces to buy quality where i'd own it today, i'd own it lower and i'd be meh or slightly annoyed if it went higher but where all around i'm generating yield in this choppy mid term and trump go coco for cocopuff world. - anyway - flagging - it's a 2.5% spot for me, fully covered at this pt as mentioned. (did the same w/ NOW today but ITM b/c that multiple and IGV factor freaks me out) V