Sonora Investment Management Group LLC Trims Position in Weyerhaeuser Company $WY

Key Points

• Sonora Investment Management Group LLC has reduced its stake in Weyerhaeuser Company by 24.7%, now holding 38,278 shares valued at $983,000.
• Director Sara Grootwassink Lewis purchased 4,000 shares at an average price of $25.29, increasing her ownership by 22.89%.
• Analysts have set a consensus rating of "Moderate Buy" for Weyerhaeuser, with an average price target of $32.88.

Sonora Investment Management Group LLC lessened its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,278 shares of the real estate investment trust's stock after selling 12,524 shares during the period. Sonora Investment Management Group LLC's holdings in Weyerhaeuser were worth $983,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WY. Nuveen LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth approximately $107,330,000. Millennium Management LLC boosted its position in Weyerhaeuser by 2,952.7% in the 1st quarter. Millennium Management LLC now owns 3,130,367 shares of the real estate investment trust's stock worth $91,657,000 after purchasing an additional 3,027,823 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Weyerhaeuser by 63.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock worth $212,733,000 after purchasing an additional 2,833,288 shares in the last quarter. Clean Energy Transition LLP purchased a new stake in Weyerhaeuser in the 1st quarter worth approximately $55,429,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Weyerhaeuser in the 1st quarter worth approximately $53,061,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Insider Buying and Selling

In related news, Director Sara Grootwassink Lewis bought 4,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $25.29 per share, with a total value of $101,160.00. Following the purchase, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. The trade was a 22.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on WY shares. Wall Street Zen lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. DA Davidson decreased their target price on Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday, July 22nd. CIBC decreased their target price on Weyerhaeuser from $32.00 to $31.00 and set an "outperformer" rating on the stock in a research report on Thursday, September 11th. Citigroup decreased 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. Finally, JPMorgan Chase & Co. decreased their target price on Weyerhaeuser from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.88.

Weyerhaeuser Stock Up 1.5%

NYSE WY opened at $24.53 on Friday. The business has a fifty day moving average price of $25.49 and a 200 day moving average price of $26.20. Weyerhaeuser Company has a one year low of $23.98 and a one year high of $34.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The company has a market cap of $17.70 billion, a P/E ratio of 64.55, a P/E/G ratio of 86.04 and a beta of 1.07.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $0.21 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, August 29th. Weyerhaeuser's dividend payout ratio is currently 221.05%.

About Weyerhaeuser

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.

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