Rheos Capital Works Inc. Buys 106,000 Shares of Visa Inc. (NYSE:V)

Rheos Capital Works Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 229.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,200 shares of the credit-card processor’s stock after acquiring an additional 106,000 shares during the quarter. Visa comprises 2.0% of Rheos Capital Works Inc.’s investment portfolio, making the stock its 9th biggest position. Rheos Capital Works Inc.’s holdings in Visa were worth $42,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the 4th quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $33,000. Valued Wealth Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $40,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V traded up $3.95 during trading hours on Monday, reaching $279.17. 1,678,254 shares of the company’s stock were exchanged, compared to its average volume of 6,375,416. The firm has a market capitalization of $510.59 billion, a price-to-earnings ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a 50-day moving average of $273.97 and a 200 day moving average of $273.14. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1-year low of $226.02 and a 1-year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Research analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is currently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock worth $9,559,382 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on V. Robert W. Baird boosted their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. TD Cowen started coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Macquarie upped their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Finally, Mizuho upped their target price on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $303.76.

About Visa

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.