Makena Capital Management LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Key Points

• Makena Capital Management LLC significantly increased its holdings in Visa Inc. by 45.9%, acquiring more than 21,000 shares during the first quarter, bringing its total to approximately 67,589 shares.
• Visa recently reported a quarterly revenue of $10.17 billion, exceeding analysts' estimates, with earnings per share of $2.98, reflecting a 14.3% year-over-year increase.
• Multiple analysts have revised their price targets for Visa, with estimates ranging from $384.00 to $425.00, and a majority rating the stock as a "Buy" or "Outperform".

Makena Capital Management LLC raised its holdings in Visa Inc. (NYSE:V - Free Report) by 45.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,589 shares of the credit-card processor's stock after buying an additional 21,249 shares during the quarter. Visa makes up approximately 2.4% of Makena Capital Management LLC's holdings, making the stock its 11th largest holding. Makena Capital Management LLC's holdings in Visa were worth $23,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% in 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. Jump Financial LLC lifted its stake in shares of Visa by 241.6% in the 4th quarter. Jump Financial LLC now owns 3,546 shares of the credit-card processor's stock valued at $1,121,000 after purchasing an additional 2,508 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Visa by 2.1% in the 4th quarter. First Trust Advisors LP now owns 1,686,787 shares of the credit-card processor's stock valued at $533,092,000 after purchasing an additional 34,769 shares in the last quarter. Finally, Dnca Finance lifted its stake in shares of Visa by 4.3% in the 4th quarter. Dnca Finance now owns 199,447 shares of the credit-card processor's stock valued at $63,033,000 after purchasing an additional 8,270 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Macquarie boosted their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $380.84.

Visa Stock Performance

Shares of V opened at $344.44 on Friday. The business's 50 day moving average is $350.17 and its two-hundred day moving average is $347.41. Visa Inc. has a 52-week low of $265.23 and a 52-week high of $375.51. The firm has a market cap of $631.29 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.29 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is 23.05%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,100 shares of company stock valued at $27,643,224 over the last quarter. Company insiders own 0.13% of the company's stock.

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.

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