Kerusso Capital Management LLC Purchases Shares of 9,535 Visa Inc. (NYSE:V)

Kerusso Capital Management LLC acquired a new stake in Visa Inc. (NYSE:V) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 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 investment portfolio, making the stock its 28th largest position.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors grew its position 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 purchasing an additional 626,618 shares during the last quarter. Capital World Investors grew its position 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 purchasing an additional 968,008 shares during the last quarter. Norges Bank bought a new position in shares of Visa during the fourth quarter worth approximately $3,895,015,000. Finally, Fisher Asset Management LLC boosted its stake in Visa by 1.9% in the 4th 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 purchasing an additional 166,767 shares during the period. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on V. Jefferies Financial Group lowered their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America reiterated a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada lowered their target price 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. Finally, Morgan Stanley cut their price target on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.

Visa Stock Performance

NYSE:V opened at $279.37 on Friday. The stock’s 50-day moving average is $266.53 and its 200-day moving average is $273.13. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $510.95 billion, a P/E ratio of 31.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Profile

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.