It means 'you'. It's old usage. I believe it's the object form, which means it's only used if it's the direct object of a sentence. The subject form is 'thou'.
It is the informal objective form of the second person singular—this was back when English made a distinction between the singular you and the plural you—and it does indeed mean you.
You You Your Yours (Current) Thou Thee Thy/Thine Thine (Informal singular) Ye You Your Yours (Plural/formal singular)