Traeger, Inc. (NYSE:COOK) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in shares of Traeger, Inc. (NYSE:COOK) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,076,919 shares of the company’s stock after selling 25,434 shares during the quarter. Geode Capital Management LLC owned 0.82% of Traeger worth $3,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in shares of Traeger during the third quarter worth $50,000. SG Americas Securities LLC acquired a new position in Traeger during the 3rd quarter worth $51,000. AQR Capital Management LLC acquired a new position in Traeger during the 2nd quarter worth $52,000. Public Employees Retirement System of Ohio increased its holdings in Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after purchasing an additional 7,006 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Traeger in the 3rd quarter valued at about $118,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Stock Performance

Shares of Traeger stock opened at $2.45 on Monday. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. Traeger, Inc. has a 52 week low of $1.97 and a 52 week high of $3.97. The firm’s 50 day moving average is $2.94 and its two-hundred day moving average is $2.97. The firm has a market capitalization of $319.97 million, a P/E ratio of -6.12 and a beta of 1.25.

Traeger (NYSE:COOK) last posted its earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The firm had revenue of $122.05 million for the quarter, compared to the consensus estimate of $118.74 million. During the same period last year, the firm posted ($0.16) EPS. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts forecast that Traeger, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on COOK shares. Canaccord Genuity Group boosted their price objective on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price target on shares of Traeger in a report on Thursday, November 7th. Piper Sandler raised their price objective on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their target price on shares of Traeger from $2.50 to $2.75 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.10.

Traeger Profile

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.