Baird Financial Group Inc. Reduces Position in Weyerhaeuser (NYSE:WY)

Baird Financial Group Inc. reduced its position in Weyerhaeuser (NYSE:WY - Free Report) by 24.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 677,888 shares of the real estate investment trust's stock after selling 217,852 shares during the period. Baird Financial Group Inc. owned about 0.09% of Weyerhaeuser worth $19,083,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its holdings in shares of Weyerhaeuser by 57.5% during the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock valued at $1,095,726,000 after buying an additional 14,213,243 shares during the last quarter. Norges Bank acquired a new stake in Weyerhaeuser in the fourth quarter valued at approximately $638,470,000. Geode Capital Management LLC lifted its stake in Weyerhaeuser by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust's stock valued at $566,527,000 after acquiring an additional 637,643 shares during the last quarter. First Eagle Investment Management LLC grew its position in Weyerhaeuser by 1.1% in the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust's stock worth $404,299,000 after acquiring an additional 158,800 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Weyerhaeuser by 3.5% during the 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock worth $268,498,000 after purchasing an additional 322,313 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WY has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. StockNews.com raised Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price objective for the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 target price on shares of Weyerhaeuser in a research note on Monday, February 3rd. Finally, Cibc World Mkts raised Weyerhaeuser from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Weyerhaeuser has an average rating of "Moderate Buy" and a consensus price target of $33.75.

Weyerhaeuser Price Performance

NYSE WY traded up $0.26 during trading hours on Friday, hitting $26.20. The company had a trading volume of 4,948,248 shares, compared to its average volume of 3,754,705. The firm has a market capitalization of $19.00 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 4.74 and a beta of 1.15. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The firm has a 50 day simple moving average of $27.40 and a 200 day simple moving average of $29.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The company's revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 EPS. Equities research analysts expect that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, May 30th. Weyerhaeuser's dividend payout ratio is currently 168.00%.

Weyerhaeuser Profile

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.