What happened Shares of Yeti Holdings (NYSE: YETI) fell 33% in May, according to data from S&P Global Market Intelligence. The stock retreated early in the month after investors decided that its first-quarter results and guidance weren't strong enough to justify the company's valuation, and its share price continued to trend lower through the month amid sell-offs for the broader market. YETI data by YCharts. Yeti reported first-quarter results on May 2 and delivered sales and earnings for the period that came in significantly ahead of the average analyst targets. While the company put up solid sales and earnings beats in the quarter and raised its earnings guidance, it looks like those weren't enough for investors to continue backing the stock's bullish run. Image source: Yeti. So what Yeti's first-quarter revenue increased 15% year over year to reach $155.4 million and surpass the analyst target for sales of $143.2 million. Earning per share of $0.06 also came in well ahead of the analyst target for per-share earnings of $0.02. The company expects full-year sales to grow between 11.5% and 13%, and it raised its target earnings range to between $1.02 and $1.06 per share -- up from its previous guidance for per-share earnings between $0.99 to $1.04. Hitting the midpoint of its target would see earnings expanding roughly 14% annually. The company did record revenue in Q1 for some items that will actually ship in Q2, which may have been taken as a bad omen by investors. Heading into May, the thermos and cooler company's stock had climbed a whopping 140% through the year. Yeti had managed to defy a sizable contingent of bears and put the squeeze on short-sellers, but it looks like investors may have simply decided that its valuation was too rich to justify and taken the few elements of uncertainty that had been mixed in with the mostly good news as an opportunity to take gains on the stock. Now what Yeti stock has seen a bit of recovery in June, with shares gaining roughly 5.8% in the month so far. YETI data by YCharts. Shares trade at roughly 2.4 times this year's expected sales and 24 times expected earnings. 10 stocks we like better than Yeti Holdings INCWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Yeti Holdings INC wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 1, 2019 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source