Strs Ohio Makes New Investment in Traeger, Inc. $COOK

Key Points

• Strs Ohio has made a new investment in Traeger, Inc., acquiring 400,000 shares valued at approximately $672,000, representing about 0.29% of the company.
• Several institutional investors have increased their stakes in Traeger, with Deutsche Bank AG notably boosting its holdings by 231.8% during the last quarter.
• Traeger’s stock has recently seen a decrease of 3.7%, trading at $1.30, with analysts setting a consensus target price of $2.13 amidst updated ratings from different firms.

Strs Ohio acquired a new position in Traeger, Inc. (NYSE:COOK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 400,000 shares of the company's stock, valued at approximately $672,000. Strs Ohio owned approximately 0.29% of Traeger as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of Traeger by 1.1% in the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company's stock valued at $973,000 after acquiring an additional 4,433 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Traeger by 36.6% during the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock valued at $80,000 after purchasing an additional 8,933 shares during the last quarter. Empowered Funds LLC boosted its stake in Traeger by 9.3% in the 1st quarter. Empowered Funds LLC now owns 167,696 shares of the company's stock worth $282,000 after purchasing an additional 14,271 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Traeger by 202.8% in the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company's stock worth $77,000 after buying an additional 21,500 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Traeger by 231.8% during the fourth quarter. Deutsche Bank AG now owns 41,344 shares of the company's stock valued at $99,000 after acquiring an additional 28,883 shares in the last quarter. Hedge funds and other institutional investors own 46.84% of the company's stock.

Traeger Stock Performance

Shares of NYSE:COOK traded up $0.04 during midday trading on Tuesday, hitting $1.30. The stock had a trading volume of 64,818 shares, compared to its average volume of 330,693. The company has a current ratio of 2.92, a quick ratio of 1.38 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $175.98 million, a PE ratio of -4.80 and a beta of 1.44. Traeger, Inc. has a 1 year low of $1.20 and a 1 year high of $3.97. The stock has a 50 day moving average price of $1.49 and a two-hundred day moving average price of $1.57.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Traeger from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. B. Riley cut Traeger from a "buy" rating to a "neutral" rating and cut their price target for the company from $3.00 to $1.50 in a report on Wednesday, August 13th. Royal Bank Of Canada lowered their price objective on Traeger from $1.50 to $1.25 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Finally, Telsey Advisory Group decreased their price target on Traeger from $2.00 to $1.75 and set a "market perform" rating on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.13.

Traeger Company 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.