Toronto Dominion Bank Boosts Stake in Weyerhaeuser (NYSE:WY)

Toronto Dominion Bank boosted its position in Weyerhaeuser (NYSE:WY - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 386,576 shares of the real estate investment trust's stock after purchasing an additional 27,497 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Weyerhaeuser worth $10,882,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truist Financial Corp increased its stake in shares of Weyerhaeuser by 2.8% in the 4th quarter. Truist Financial Corp now owns 50,889 shares of the real estate investment trust's stock worth $1,433,000 after acquiring an additional 1,373 shares in the last quarter. Sonora Investment Management Group LLC grew its holdings in Weyerhaeuser by 56.5% in the fourth quarter. Sonora Investment Management Group LLC now owns 51,785 shares of the real estate investment trust's stock worth $1,458,000 after purchasing an additional 18,698 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Weyerhaeuser by 36.7% in the 4th quarter. Jones Financial Companies Lllp now owns 11,482 shares of the real estate investment trust's stock worth $323,000 after purchasing an additional 3,084 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Weyerhaeuser by 33.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 42,746 shares of the real estate investment trust's stock worth $1,203,000 after buying an additional 10,601 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Weyerhaeuser by 9.6% in the 3rd quarter. Barclays PLC now owns 1,754,479 shares of the real estate investment trust's stock worth $59,406,000 after buying an additional 153,919 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

NYSE:WY traded down $0.03 during trading hours on Friday, reaching $25.22. The company had a trading volume of 3,342,876 shares, compared to its average volume of 3,744,618. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The firm has a market cap of $18.29 billion, a price-to-earnings ratio of 45.86, a PEG ratio of 4.74 and a beta of 1.15. The firm's 50 day moving average price is $26.74 and its 200-day moving average price is $28.89.

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

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 3.33%. The ex-dividend date is Friday, May 30th. Weyerhaeuser's payout ratio is currently 168.00%.

Weyerhaeuser declared that its board has initiated a share repurchase program 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 buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on WY shares. JPMorgan Chase & Co. started coverage on Weyerhaeuser in a report on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 target price on the stock. Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. Royal Bank of Canada reissued an "outperform" rating and set a $36.00 price objective on shares of Weyerhaeuser in a research report on Monday, February 3rd. The Goldman Sachs Group reiterated a "sell" rating on shares of Weyerhaeuser in a research note on Friday. Finally, Truist Financial reduced their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.75.

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.