Cullen Frost Bankers Inc. Buys 5,295 Shares of Wheaton Precious Metals Corp. (NYSE:WPM)

Cullen Frost Bankers Inc. increased its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 855.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,914 shares of the company's stock after buying an additional 5,295 shares during the period. Cullen Frost Bankers Inc.'s holdings in Wheaton Precious Metals were worth $459,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. NBT Bank N A NY lifted its position in Wheaton Precious Metals by 129.3% during the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the 1st quarter worth about $52,000. Headlands Technologies LLC grew its position in shares of Wheaton Precious Metals by 494.9% in the 4th quarter. Headlands Technologies LLC now owns 696 shares of the company's stock worth $39,000 after buying an additional 579 shares during the period. Penserra Capital Management LLC boosted its stake in Wheaton Precious Metals by 1,812.8% in the 1st quarter. Penserra Capital Management LLC now owns 746 shares of the company's stock worth $57,000 after purchasing an additional 707 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Wheaton Precious Metals by 77.4% in the 1st quarter. Whittier Trust Co. now owns 763 shares of the company's stock worth $59,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 70.34% of the company's stock.

Wheaton Precious Metals Price Performance

WPM traded down $0.70 during trading on Friday, reaching $88.30. 1,140,717 shares of the stock traded hands, compared to its average volume of 1,723,459. Wheaton Precious Metals Corp. has a fifty-two week low of $53.05 and a fifty-two week high of $95.23. The stock's 50-day simple moving average is $87.93 and its two-hundred day simple moving average is $76.90. The stock has a market cap of $40.08 billion, a price-to-earnings ratio of 64.93, a price-to-earnings-growth ratio of 2.53 and a beta of 0.46.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The company had revenue of $470.41 million for the quarter, compared to analyst estimates of $446.33 million. Wheaton Precious Metals had a return on equity of 10.32% and a net margin of 42.45%. The company's revenue was up 58.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. Research analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 earnings per share for the current fiscal year.

Wheaton Precious Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 28th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, May 28th. Wheaton Precious Metals's dividend payout ratio (DPR) is currently 48.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Wheaton Precious Metals from $80.00 to $90.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. National Bankshares reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of Wheaton Precious Metals in a research note on Tuesday. Scotiabank boosted their target price on shares of Wheaton Precious Metals from $79.00 to $87.00 and gave the stock a "sector outperform" rating in a report on Monday, April 14th. Finally, Raymond James Financial upped their price objective on shares of Wheaton Precious Metals from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Wheaton Precious Metals currently has an average rating of "Buy" and a consensus price target of $93.00.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.