Kensico Capital Management Corp Has $279.29 Million Stake in Visa Inc. $V

Kensico Capital Management Corp decreased its stake in shares of Visa Inc. (NYSE:V) by 3.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 818,130 shares of the credit-card processor’s stock after selling 27,770 shares during the quarter. Visa comprises about 4.3% of Kensico Capital Management Corp’s investment portfolio, making the stock its 5th biggest holding. Kensico Capital Management Corp’s holdings in Visa were worth $279,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after purchasing an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in Visa by 16.9% in the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after buying an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its holdings in Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after buying an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Price Performance

V opened at $310.10 on Tuesday. The company’s 50-day simple moving average is $324.62 and its two-hundred day simple moving average is $335.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $562.88 billion, a P/E ratio of 29.09, a P/E/G ratio of 1.76 and a beta of 0.78. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the previous year, the company earned $2.75 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a $0.67 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.9%. Visa’s dividend payout ratio (DPR) is currently 25.14%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on V shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. Morgan Stanley restated an “overweight” rating and issued a $411.00 price objective (up from $398.00) on shares of Visa in a report on Friday, January 30th. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $410.00 price objective on shares of Visa in a research report on Friday, January 30th. Truist Financial set a $372.00 target price on Visa in a research note on Tuesday, February 10th. Finally, Evercore set a $380.00 target price on Visa in a report on Friday, December 12th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $392.65.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.