Brokerages Set Weyerhaeuser Company (NYSE:WY) Target Price at $28.50

Weyerhaeuser Company (NYSE:WY) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $28.50.

WY has been the subject of several research reports. Royal Bank Of Canada dropped their price target on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Citigroup boosted their target price on Weyerhaeuser from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Zacks Research raised Weyerhaeuser from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 12th. Truist Financial lifted their price objective on Weyerhaeuser from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Weyerhaeuser in a research report on Monday, December 29th.

Weyerhaeuser Stock Down 0.5%

Shares of WY opened at $26.67 on Monday. The company’s 50-day simple moving average is $23.67 and its 200-day simple moving average is $24.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 1.23. Weyerhaeuser has a 1 year low of $21.16 and a 1 year high of $31.66. The stock has a market capitalization of $19.22 billion, a PE ratio of 59.26, a P/E/G ratio of 99.05 and a beta of 1.04.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.13. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a net margin of 4.68% and a return on equity of 3.04%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. Analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. Weyerhaeuser’s dividend payout ratio is currently 186.67%.

Insiders Place Their Bets

In related news, CEO Devin W. Stockfish sold 90,162 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $23.33, for a total value of $2,103,479.46. Following the transaction, the chief executive officer owned 1,024,861 shares of the company’s stock, valued at $23,910,007.13. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sara Grootwassink Lewis purchased 4,500 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $23.61 per share, for a total transaction of $106,245.00. Following the completion of the purchase, the director owned 25,978 shares of the company’s stock, valued at $613,340.58. This represents a 20.95% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Weyerhaeuser

Several hedge funds and other institutional investors have recently made changes to their positions in WY. Goldman Sachs Group Inc. boosted its holdings in shares of Weyerhaeuser by 18.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock valued at $65,878,000 after buying an additional 346,571 shares in the last quarter. Empowered Funds LLC boosted its stake in Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock valued at $1,348,000 after acquiring an additional 1,498 shares in the last quarter. Intech Investment Management LLC boosted its stake in Weyerhaeuser by 5.9% in the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after acquiring an additional 3,124 shares in the last quarter. Swedbank AB increased its position in shares of Weyerhaeuser by 16.4% during the second quarter. Swedbank AB now owns 848,168 shares of the real estate investment trust’s stock worth $21,789,000 after purchasing an additional 119,504 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Weyerhaeuser by 73.9% during the second quarter. Exchange Traded Concepts LLC now owns 77,540 shares of the real estate investment trust’s stock worth $1,992,000 after purchasing an additional 32,955 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.