Traeger, Inc. (NYSE:COOK) Shares Purchased by Capital World Investors

Capital World Investors grew its holdings in shares of Traeger, Inc. (NYSE:COOKFree Report) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,499,660 shares of the company’s stock after purchasing an additional 304,660 shares during the quarter. Capital World Investors owned approximately 5.17% of Traeger worth $17,744,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of COOK. Bank of New York Mellon Corp boosted its position in Traeger by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock worth $332,000 after acquiring an additional 5,752 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Traeger in the third quarter valued at approximately $55,000. Swiss National Bank increased its holdings in shares of Traeger by 14.4% in the third quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $372,000 after purchasing an additional 17,100 shares during the last quarter. Blair William & Co. IL lifted its position in Traeger by 11.6% during the third quarter. Blair William & Co. IL now owns 98,447 shares of the company’s stock worth $269,000 after buying an additional 10,260 shares in the last quarter. Finally, Glendon Capital Management LP acquired a new position in Traeger during the third quarter worth $983,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Stock Down 3.3 %

Shares of NYSE:COOK opened at $2.50 on Friday. The business has a 50-day moving average price of $2.29 and a 200 day moving average price of $2.33. Traeger, Inc. has a 12-month low of $1.97 and a 12-month high of $6.70. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $321.53 million, a price-to-earnings ratio of -3.78 and a beta of 1.16.

Traeger (NYSE:COOKGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter. Traeger had a negative net margin of 13.54% and a negative return on equity of 22.43%. The company had revenue of $144.91 million for the quarter, compared to analyst estimates of $143.41 million. Sell-side analysts expect that Traeger, Inc. will post -0.21 EPS for the current year.

Analysts Set New Price Targets

COOK has been the subject of a number of recent research reports. Canaccord Genuity Group cut their target price on Traeger from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. Telsey Advisory Group cut their price objective on shares of Traeger from $4.50 to $4.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4.38.

Read Our Latest Research Report on COOK

Insider Buying and Selling at Traeger

In other news, CEO Jeremy Andrus purchased 165,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was acquired at an average cost of $2.17 per share, for a total transaction of $358,050.00. Following the completion of the transaction, the chief executive officer now directly owns 7,428,887 shares in the company, valued at approximately $16,120,684.79. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 9.80% of the stock is owned by corporate insiders.

About Traeger

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Traeger (NYSE:COOK)

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