Empowered Funds LLC Boosts Stock Holdings in Traeger, Inc. (NYSE:COOK)

Empowered Funds LLC grew its position in shares of Traeger, Inc. (NYSE:COOK) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,763 shares of the company’s stock after acquiring an additional 7,370 shares during the period. Empowered Funds LLC owned about 0.11% of Traeger worth $536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversify Wealth Management LLC increased its stake in shares of Traeger by 5.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after acquiring an additional 8,499 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Traeger during the 1st quarter valued at $27,000. AQR Capital Management LLC bought a new position in shares of Traeger during the 2nd quarter valued at approximately $52,000. Panagora Asset Management Inc. raised its position in shares of Traeger by 19.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after purchasing an additional 29,694 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Traeger by 56.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after purchasing an additional 72,637 shares during the period. Institutional investors own 46.84% of the company’s stock.

Traeger Price Performance

Traeger stock opened at $2.95 on Monday. The stock has a market capitalization of $385.28 million, a P/E ratio of -7.38 and a beta of 1.25. The company’s fifty day moving average price is $3.27 and its 200 day moving average price is $2.87. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. Traeger, Inc. has a 1 year low of $1.97 and a 1 year high of $3.97.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $122.05 million for the quarter, compared to analyst estimates of $118.74 million. Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) EPS. As a group, equities research analysts anticipate that Traeger, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

COOK has been the subject of a number of research reports. Canaccord Genuity Group increased their price target on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Telsey Advisory Group reissued an “outperform” rating and set a $4.00 target price on shares of Traeger in a research report on Thursday, November 7th. Royal Bank of Canada raised their price target on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Piper Sandler boosted their price target on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird increased their price objective on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.00.

About Traeger

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.