Chevy Chase Trust Holdings LLC Decreases Stake in Weyerhaeuser Company (NYSE:WY)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Weyerhaeuser Company (NYSE:WYFree Report) by 0.2% during the 1st quarter, Holdings Channel reports. The fund owned 382,624 shares of the real estate investment trust’s stock after selling 815 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Weyerhaeuser were worth $11,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. South Plains Financial Inc. acquired a new position in Weyerhaeuser in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in Weyerhaeuser in the 4th quarter valued at about $27,000. Assetmark Inc. grew its position in Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 922 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Weyerhaeuser by 136.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 807 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Weyerhaeuser during the fourth quarter worth about $44,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $26.33 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03. The stock has a 50 day moving average of $26.08 and a two-hundred day moving average of $28.01. The stock has a market cap of $19.09 billion, a P/E ratio of 52.65, a P/E/G ratio of 33.82 and a beta of 1.16.

Weyerhaeuser (NYSE:WYGet Free Report) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business earned $0.16 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, research analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser announced that its board has approved a stock buyback program on Thursday, May 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Friday, May 30th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 168.00%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WY shares. CIBC lowered their price objective on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group downgraded Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. Citigroup decreased their target price on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. began coverage on Weyerhaeuser in a research note on Tuesday, April 8th. They set an “overweight” rating and a $31.00 target price for the company. Finally, Truist Financial decreased their target price on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and an average price target of $33.25.

View Our Latest Report on Weyerhaeuser

Weyerhaeuser Company Profile

(Free Report)

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.

See Also

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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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