Wheaton Precious Metals Corp. $WPM Stock Holdings Decreased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its stake in Wheaton Precious Metals by 2.9%, holding 199,566 shares worth approximately $15.49 million as of the latest SEC filing.
• Wheaton Precious Metals reported a 68.2% increase in revenue year-over-year for the quarter, reaching $503.22 million, and exceeded earnings expectations with $0.63 per share.
• The company declared a quarterly dividend of $0.165 per share, with an annualized yield of 0.7%, to be paid on September 4th.

Baird Financial Group Inc. cut its stake in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,566 shares of the company's stock after selling 6,044 shares during the period. Baird Financial Group Inc.'s holdings in Wheaton Precious Metals were worth $15,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC grew its position in Wheaton Precious Metals by 4.9% during the first quarter. Evergreen Capital Management LLC now owns 9,708 shares of the company's stock valued at $754,000 after purchasing an additional 455 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Wheaton Precious Metals by 57.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,097,735 shares of the company's stock valued at $162,811,000 after purchasing an additional 766,947 shares in the last quarter. Pembroke Management LTD grew its position in Wheaton Precious Metals by 21.6% during the first quarter. Pembroke Management LTD now owns 12,890 shares of the company's stock valued at $1,001,000 after purchasing an additional 2,289 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new position in Wheaton Precious Metals during the first quarter valued at approximately $38,000. Finally, CreativeOne Wealth LLC purchased a new position in Wheaton Precious Metals during the first quarter valued at approximately $217,000. 70.34% of the stock is owned by hedge funds and other institutional investors.

Wheaton Precious Metals Stock Up 3.3%

NYSE WPM opened at $100.43 on Tuesday. The stock has a market capitalization of $45.59 billion, a PE ratio of 58.05, a price-to-earnings-growth ratio of 2.77 and a beta of 0.42. The company has a 50 day moving average price of $93.18 and a two-hundred day moving average price of $84.43. Wheaton Precious Metals Corp. has a 12-month low of $55.47 and a 12-month high of $103.81.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. Wheaton Precious Metals had a net margin of 47.46% and a return on equity of 11.96%. The business had revenue of $503.22 million during the quarter, compared to analysts' expectations of $424.23 million. During the same period in the previous year, the company earned $0.33 earnings per share. Wheaton Precious Metals's revenue for the quarter was up 68.2% on a year-over-year basis. As a group, equities analysts anticipate that Wheaton Precious Metals Corp. will post 1.46 EPS for the current year.

Wheaton Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 21st. Wheaton Precious Metals's payout ratio is presently 38.15%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. CIBC reaffirmed an "outperform" rating on shares of Wheaton Precious Metals in a research report on Tuesday, July 15th. Berenberg Bank boosted their price objective on shares of Wheaton Precious Metals from $87.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Scotiabank lifted their target price on shares of Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. BMO Capital Markets reiterated an "outperform" rating on shares of Wheaton Precious Metals in a research note on Friday, August 8th. Finally, Wall Street Zen cut shares of Wheaton Precious Metals from a "buy" rating to a "hold" rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

About Wheaton Precious Metals

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.

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