Kerusso Capital Management LLC Makes New $2.50 Million Investment in Visa Inc. (NYSE:V)

Kerusso Capital Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,535 shares of the credit-card processor’s stock, valued at approximately $2,503,000. Visa comprises approximately 1.8% of Kerusso Capital Management LLC’s holdings, making the stock its 28th biggest position.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors lifted its stake in shares of Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors lifted its stake in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Norges Bank acquired a new stake in Visa during the fourth quarter worth about $3,895,015,000. Finally, Fisher Asset Management LLC increased its stake in Visa by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after acquiring an additional 166,767 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America restated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Trading Up 0.3 %

NYSE:V opened at $279.37 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The firm has a market capitalization of $510.95 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.98 and a beta of 0.96. The business’s 50-day moving average price is $266.53 and its two-hundred day moving average price is $273.13.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.