Geode Capital Management LLC Has $659.42 Million Position in Weyerhaeuser (NYSE:WY)

Geode Capital Management LLC grew its position in shares of Weyerhaeuser (NYSE:WY - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,534,058 shares of the real estate investment trust's stock after purchasing an additional 217,510 shares during the quarter. Geode Capital Management LLC owned 2.69% of Weyerhaeuser worth $659,422,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Fiduciary Trust Co boosted its holdings in shares of Weyerhaeuser by 0.6% in the third quarter. Fiduciary Trust Co now owns 53,185 shares of the real estate investment trust's stock worth $1,801,000 after buying an additional 331 shares during the period. Wedmont Private Capital boosted its stake in Weyerhaeuser by 4.4% in the 3rd quarter. Wedmont Private Capital now owns 8,304 shares of the real estate investment trust's stock worth $273,000 after purchasing an additional 350 shares during the period. Institute for Wealth Management LLC. grew its position in Weyerhaeuser by 2.2% during the 2nd quarter. Institute for Wealth Management LLC. now owns 16,731 shares of the real estate investment trust's stock worth $475,000 after purchasing an additional 366 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Weyerhaeuser by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,291 shares of the real estate investment trust's stock valued at $518,000 after purchasing an additional 367 shares during the period. Finally, CWM LLC lifted its holdings in shares of Weyerhaeuser by 2.2% in the third quarter. CWM LLC now owns 17,185 shares of the real estate investment trust's stock valued at $582,000 after purchasing an additional 368 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock traded down $0.36 during midday trading on Friday, reaching $30.04. The company had a trading volume of 3,175,969 shares, compared to its average volume of 3,588,261. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $31.78 and a 200 day simple moving average of $30.85. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 40.62 and a beta of 1.40.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. Weyerhaeuser's revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, equities research analysts forecast that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.20 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 2.66%. Weyerhaeuser's dividend payout ratio is currently 108.11%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WY. StockNews.com lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Truist Financial lifted their target price on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets upgraded Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 price objective for the company in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.33.

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.