Kornitzer Capital Management Inc. KS Boosts Stake in Mastercard Incorporated $MA

Key Points

• Kornitzer Capital Management Inc. KS increased its stake in Mastercard by 2.4% in Q2, owning 23,178 shares valued at approximately $13 million.
• Mastercard recently announced a quarterly dividend of $0.76 per share, which will be paid on November 7th, reflecting an annualized dividend of $3.04 and a yield of 0.5%.
• Mastercard's earnings for the last quarter exceeded analyst expectations, reporting $4.15 per share against a forecast of $4.05, with a revenue increase of 16.8% year-over-year.

Kornitzer Capital Management Inc. KS raised its position in Mastercard Incorporated (NYSE:MA - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,178 shares of the credit services provider's stock after buying an additional 538 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Mastercard were worth $13,025,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC increased its stake in Mastercard by 0.8% in the 2nd quarter. CVA Family Office LLC now owns 3,851 shares of the credit services provider's stock valued at $2,164,000 after buying an additional 30 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs increased its stake in Mastercard by 0.3% in the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 30,285 shares of the credit services provider's stock valued at $17,018,000 after buying an additional 78 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its stake in Mastercard by 9.2% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 13,199 shares of the credit services provider's stock valued at $7,411,000 after buying an additional 1,114 shares during the last quarter. Fielder Capital Group LLC boosted its stake in Mastercard by 1.1% in the second quarter. Fielder Capital Group LLC now owns 2,773 shares of the credit services provider's stock valued at $1,558,000 after acquiring an additional 29 shares during the last quarter. Finally, Curio Wealth LLC boosted its stake in Mastercard by 22,400.0% in the second quarter. Curio Wealth LLC now owns 225 shares of the credit services provider's stock valued at $126,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company's stock.

Mastercard Stock Performance

Shares of NYSE MA traded down $0.05 during midday trading on Friday, hitting $573.72. The company's stock had a trading volume of 1,839,520 shares, compared to its average volume of 2,549,875. The stock has a fifty day moving average price of $579.51 and a 200 day moving average price of $565.40. Mastercard Incorporated has a one year low of $465.59 and a one year high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $518.65 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 2.35 and a beta of 0.97.

Mastercard (NYSE:MA - Get Free Report) last posted its earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, topping analysts' consensus estimates of $4.05 by $0.10. The business had revenue of $8.13 billion for the quarter, compared to analyst estimates of $7.95 billion. Mastercard had a net margin of 44.93% and a return on equity of 200.01%. Mastercard's revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 EPS. On average, research analysts forecast that Mastercard Incorporated will post 15.91 EPS for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Thursday, October 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, October 9th. Mastercard's dividend payout ratio is 20.50%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MA. KeyCorp reiterated an "overweight" rating and issued a $665.00 target price on shares of Mastercard in a research note on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of Mastercard in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Mastercard in a research note on Thursday, July 17th. They issued a "buy" rating and a $650.00 target price on the stock. Morgan Stanley boosted their target price on shares of Mastercard from $639.00 to $661.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Robert W. Baird boosted their target price on shares of Mastercard from $640.00 to $660.00 and gave the company an "outperform" rating in a research note on Monday, October 6th. Five analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $638.96.

Insiders Place Their Bets

In related news, CFO J. Mehra Sachin sold 17,263 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $591.00, for a total transaction of $10,202,433.00. Following the sale, the chief financial officer owned 31,234 shares of the company's stock, valued at approximately $18,459,294. This represents a 35.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.

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