Chickasaw Capital Management LLC Increases Stock Position in Visa Inc. (NYSE:V)

Chickasaw Capital Management LLC grew its stake in Visa Inc. (NYSE:V) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,902 shares of the credit-card processor’s stock after buying an additional 320 shares during the period. Visa makes up about 0.4% of Chickasaw Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Chickasaw Capital Management LLC’s holdings in Visa were worth $8,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in V. Aigen Investment Management LP grew its holdings in shares of Visa by 64.5% during the 3rd quarter. Aigen Investment Management LP now owns 3,951 shares of the credit-card processor’s stock valued at $909,000 after purchasing an additional 1,549 shares during the last quarter. PAX Financial Group LLC lifted its stake in shares of Visa by 1.2% in the 3rd quarter. PAX Financial Group LLC now owns 3,492 shares of the credit-card processor’s stock valued at $803,000 after acquiring an additional 43 shares during the last quarter. Rathbones Group PLC boosted its holdings in Visa by 30.7% during the 3rd quarter. Rathbones Group PLC now owns 3,083,085 shares of the credit-card processor’s stock valued at $709,140,000 after acquiring an additional 723,521 shares during the period. V Square Quantitative Management LLC grew its position in Visa by 20.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,709 shares of the credit-card processor’s stock worth $2,693,000 after acquiring an additional 2,027 shares during the last quarter. Finally, TFB Advisors LLC increased its stake in Visa by 4.5% in the 3rd quarter. TFB Advisors LLC now owns 4,719 shares of the credit-card processor’s stock worth $1,085,000 after purchasing an additional 205 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on V shares. Robert W. Baird increased their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Mizuho boosted their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. TD Cowen began coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.76.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,402 shares of company stock worth $9,559,382. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $273.62 on Thursday. The company has a market capitalization of $500.43 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a one year low of $224.98 and a one year high of $290.96. The company’s 50-day moving average is $273.96 and its 200 day moving average is $272.71.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $2.09 EPS. Sell-side analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

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.