Canoe Financial LP Has $177.93 Million Position in Mastercard Incorporated $MA

Key Points

• Canoe Financial LP reduced its stake in Mastercard ($MA) by 4.7%, owning 316,631 shares after selling 15,600 shares in the second quarter.
• Mastercard's quarterly earnings for July 31st showed earnings per share of $4.15, exceeding analysts' expectations of $4.05, with revenue rising to $8.13 billion.
• The company has declared a $0.76 quarterly dividend to be paid on November 7th, with an annualized yield of 0.5% and a payout ratio of 20.50%.

Canoe Financial LP reduced its position in shares of Mastercard Incorporated (NYSE:MA - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,631 shares of the credit services provider's stock after selling 15,600 shares during the period. Mastercard accounts for about 2.5% of Canoe Financial LP's holdings, making the stock its 11th biggest holding. Canoe Financial LP's holdings in Mastercard were worth $177,928,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Accredited Investors Inc. lifted its stake in Mastercard by 2.6% in the first quarter. Accredited Investors Inc. now owns 718 shares of the credit services provider's stock worth $394,000 after acquiring an additional 18 shares during the last quarter. Wealthstream Advisors Inc. raised its position in Mastercard by 2.9% in the 1st quarter. Wealthstream Advisors Inc. now owns 632 shares of the credit services provider's stock valued at $347,000 after purchasing an additional 18 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in Mastercard by 1.8% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,055 shares of the credit services provider's stock valued at $538,000 after buying an additional 19 shares during the period. Alta Wealth Advisors LLC grew its stake in shares of Mastercard by 3.6% during the 1st quarter. Alta Wealth Advisors LLC now owns 540 shares of the credit services provider's stock worth $296,000 after purchasing an additional 19 shares during the period. Finally, May Hill Capital LLC grew its stake in shares of Mastercard by 2.0% during the 1st quarter. May Hill Capital LLC now owns 986 shares of the credit services provider's stock worth $540,000 after purchasing an additional 19 shares during the period. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MA. Seaport Res Ptn upgraded shares of Mastercard from a "hold" rating to a "strong-buy" rating in a report on Monday, July 14th. Wells Fargo & Company increased their price objective on shares of Mastercard from $625.00 to $650.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. 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 price target for the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Mastercard in a report on Friday, August 1st. Finally, Truist Financial cut their price objective on Mastercard from $640.00 to $612.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $630.89.

Mastercard Stock Performance

Shares of NYSE MA traded down $2.17 during trading hours on Friday, reaching $583.88. The stock had a trading volume of 6,744,713 shares, compared to its average volume of 2,280,804. The company has a market cap of $527.83 billion, a price-to-earnings ratio of 39.37, a PEG ratio of 2.40 and a beta of 0.99. The business's fifty day moving average is $577.23 and its two-hundred day moving average is $559.09. Mastercard Incorporated has a twelve month low of $465.59 and a twelve month high of $601.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.16 and a quick ratio of 1.16.

Mastercard (NYSE:MA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 EPS for the quarter, beating analysts' consensus estimates of $4.05 by $0.10. The firm 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%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.50 earnings per share. As a group, research analysts expect that Mastercard Incorporated will post 15.91 EPS for the current year.

Mastercard Announces Dividend

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

Insider Transactions at Mastercard

In related news, insider Linda Pistecchia Kirkpatrick sold 958 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $560.00, for a total value of $536,480.00. Following the transaction, the insider owned 23,624 shares in the company, valued at $13,229,440. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julius Genachowski sold 312 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $570.67, for a total value of $178,049.04. Following the completion of the transaction, the director owned 8,469 shares in the company, valued at approximately $4,833,004.23. This represents a 3.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,717 shares of company stock worth $22,684,831 in the last ninety days. 0.09% of the stock is currently owned by insiders.

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.