Mackenzie Financial Corp Sells 13,662 Shares of Weyerhaeuser (NYSE:WY)

Mackenzie Financial Corp decreased its holdings in shares of Weyerhaeuser (NYSE:WY - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,630 shares of the real estate investment trust's stock after selling 13,662 shares during the period. Mackenzie Financial Corp's holdings in Weyerhaeuser were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of WY. South Plains Financial Inc. bought a new stake in Weyerhaeuser during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Weyerhaeuser during the fourth quarter worth about $27,000. Assetmark Inc. raised its holdings in shares of Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after buying an additional 922 shares during the last quarter. Asset Planning Inc acquired a new stake in Weyerhaeuser during the 4th quarter worth about $36,000. Finally, TD Waterhouse Canada Inc. lifted its stake in Weyerhaeuser by 136.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 807 shares during the period. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Shares of WY stock traded up $0.45 on Wednesday, reaching $26.31. The stock had a trading volume of 3,872,811 shares, compared to its average volume of 3,797,034. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 4.74 and a beta of 1.16. The firm's 50-day moving average is $26.05 and its two-hundred day moving average is $28.55. Weyerhaeuser has a 12 month low of $24.10 and a 12 month high of $34.03. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued 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. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm's revenue was down 4.9% compared to the same quarter last year. On average, research analysts expect that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser declared that its board has initiated a share buyback program on Thursday, May 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.19%. Weyerhaeuser's payout ratio is currently 168.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Truist Financial dropped their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. initiated coverage on Weyerhaeuser in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 price objective on the stock. CIBC reduced their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 22nd. Finally, Citigroup cut their price target on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Weyerhaeuser Company 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.