DAVENPORT & Co LLC Sells 5,972 Shares of Weyerhaeuser Co (NYSE:WY)

DAVENPORT & Co LLC trimmed its holdings in shares of Weyerhaeuser Co (NYSE:WY) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,434 shares of the real estate investment trust’s stock after selling 5,972 shares during the period. DAVENPORT & Co LLC’s holdings in Weyerhaeuser were worth $1,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitchell Mcleod Pugh & Williams Inc. increased its stake in Weyerhaeuser by 4.8% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,069 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 650 shares in the last quarter. Morgan Stanley increased its stake in Weyerhaeuser by 10.7% in the first quarter. Morgan Stanley now owns 4,983,483 shares of the real estate investment trust’s stock valued at $84,470,000 after purchasing an additional 482,537 shares in the last quarter. Rhumbline Advisers increased its stake in Weyerhaeuser by 9.5% in the first quarter. Rhumbline Advisers now owns 1,454,094 shares of the real estate investment trust’s stock valued at $24,647,000 after purchasing an additional 126,575 shares in the last quarter. Retirement Systems of Alabama increased its stake in Weyerhaeuser by 16.1% in the second quarter. Retirement Systems of Alabama now owns 631,902 shares of the real estate investment trust’s stock valued at $14,193,000 after purchasing an additional 87,706 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Weyerhaeuser by 853.2% in the first quarter. 1832 Asset Management L.P. now owns 88,749 shares of the real estate investment trust’s stock valued at $1,484,000 after purchasing an additional 79,438 shares in the last quarter. 76.98% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. Raymond James downgraded shares of Weyerhaeuser from an “outperform” rating to a “market perform” rating in a research note on Monday, May 4th. Scotiabank upped their price target on shares of Weyerhaeuser from $26.50 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. BMO Capital Markets reduced their price target on shares of Weyerhaeuser from $32.00 to $23.00 and set an “in-line” rating for the company in a report on Monday, May 4th. Finally, Zacks Investment Research cut shares of Weyerhaeuser from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Saturday, June 20th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Weyerhaeuser currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Shares of WY opened at $27.81 on Friday. Weyerhaeuser Co has a 12 month low of $13.10 and a 12 month high of $31.58. The firm has a fifty day simple moving average of $23.68 and a 200 day simple moving average of $23.32. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 57.94 and a beta of 1.89. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.78.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Friday, July 31st. The real estate investment trust reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.10. Weyerhaeuser had a net margin of 5.47% and a return on equity of 4.09%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts predict that Weyerhaeuser Co will post 0.27 earnings per share for the current fiscal year.

Weyerhaeuser Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.2 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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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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