Cantillon Capital Management LLC Has $694.54 Million Stake in Visa Inc. $V

Key Points

• Cantillon Capital Management LLC reduced its Visa Inc. stake by 2.8%, now holding shares worth approximately $694.54 million, which constitutes 4.0% of its total holdings.
• Insider transactions included Visa's General Counsel selling 2,027 shares and CEO selling 10,485 shares, indicating confidence changes among company leaders.
• Visa reported a quarterly earnings of $2.98 EPS, exceeding analysts' estimates, and a revenue of $10.17 billion, reflecting a 14.3% increase year-over-year.

Cantillon Capital Management LLC cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,956,163 shares of the credit-card processor's stock after selling 56,809 shares during the period. Visa makes up 4.0% of Cantillon Capital Management LLC's holdings, making the stock its 5th biggest holding. Cantillon Capital Management LLC owned 0.11% of Visa worth $694,536,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new stake in Visa in the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter worth about $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the 2nd quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC grew its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $347.34 on Friday. The stock has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm's 50 day moving average is $344.79 and its 200 day moving average is $347.60. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.42 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. KeyCorp reaffirmed an "overweight" rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average price target of $392.75.

Visa Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.