Geode Capital Management LLC Trims Stock Holdings in Traeger, Inc. (NYSE:COOK)

Geode Capital Management LLC reduced its position in Traeger, Inc. (NYSE:COOK) by 2.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,076,919 shares of the company’s stock after selling 25,434 shares during the quarter. Geode Capital Management LLC’s holdings in Traeger were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its stake in Traeger by 724.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after purchasing an additional 226,750 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Traeger in the second quarter valued at about $345,000. Squarepoint Ops LLC boosted its stake in shares of Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after buying an additional 75,159 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Traeger by 56.3% during the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after buying an additional 72,637 shares during the last quarter. Finally, Barclays PLC increased its position in Traeger by 271.7% in the 3rd quarter. Barclays PLC now owns 44,861 shares of the company’s stock valued at $166,000 after acquiring an additional 32,793 shares during the period. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Traeger Stock Up 2.9 %

COOK opened at $2.45 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. Traeger, Inc. has a 12 month low of $1.97 and a 12 month high of $3.97. The stock has a market capitalization of $319.97 million, a P/E ratio of -6.12 and a beta of 1.25. The business has a 50 day simple moving average of $2.94 and a 200-day simple moving average of $2.97.

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

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.