Weyerhaeuser Company (NYSE:WY) Shares Purchased by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in Weyerhaeuser Company by 131.7%, acquiring 497,939 additional shares to bring its total ownership to 876,006 shares worth approximately $25.65 million.
• Weyerhaeuser recently announced a quarterly dividend of $0.21 per share, reflecting a yield of 3.3%, and has a payout ratio of 221.05%.
• Analyst ratings for Weyerhaeuser show a consensus rating of "Moderate Buy" with a target price of $32.88, despite some firms downgrading their outlook for the stock.

Citigroup Inc. lifted its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 131.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 876,006 shares of the real estate investment trust's stock after purchasing an additional 497,939 shares during the quarter. Citigroup Inc. owned about 0.12% of Weyerhaeuser worth $25,649,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at about $26,206,000. Bessemer Group Inc. boosted its holdings in shares of Weyerhaeuser by 1.2% in the fourth quarter. Bessemer Group Inc. now owns 42,151 shares of the real estate investment trust's stock valued at $1,187,000 after purchasing an additional 491 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Weyerhaeuser by 9.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 92,599 shares of the real estate investment trust's stock valued at $2,609,000 after purchasing an additional 8,354 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in Weyerhaeuser in the fourth quarter worth approximately $177,000. Finally, Bridgewater Associates LP acquired a new position in shares of Weyerhaeuser during the fourth quarter worth $1,604,000. 82.99% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Sara Grootwassink Lewis purchased 4,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were bought at an average price of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company's stock.

Weyerhaeuser Stock Performance

WY traded down $0.10 during trading on Thursday, hitting $26.31. The stock had a trading volume of 3,300,921 shares, compared to its average volume of 4,671,673. The firm has a market capitalization of $18.99 billion, a P/E ratio of 69.25, a PEG ratio of 76.52 and a beta of 1.08. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03. The company's 50-day moving average price is $26.07 and its 200 day moving average price is $27.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser declared that its Board of Directors has approved a share buyback plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. Weyerhaeuser's dividend payout ratio is presently 221.05%.

Wall Street Analyst Weigh In

WY has been the topic of several research reports. Citigroup cut their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. cut their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. DA Davidson cut their price target on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Truist Financial dropped their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a report on Monday, July 28th. Finally, The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.88.

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.