Kentucky Retirement Systems Trims Position in Mastercard Incorporated (NYSE:MA)

Kentucky Retirement Systems lessened its stake in shares of Mastercard Incorporated (NYSE:MA) by 1.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 56,696 shares of the credit services provider’s stock after selling 781 shares during the quarter. Mastercard comprises about 0.9% of Kentucky Retirement Systems’ portfolio, making the stock its 16th biggest position. Kentucky Retirement Systems’ holdings in Mastercard were worth $29,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Investment Counsel Inc bought a new stake in shares of Mastercard during the 4th quarter valued at about $207,000. Prakash Investment Advisors LLC bought a new stake in shares of Mastercard during the 4th quarter valued at about $1,948,000. Mattern Capital Management LLC lifted its position in Mastercard by 9.4% in the 4th quarter. Mattern Capital Management LLC now owns 1,271 shares of the credit services provider’s stock worth $669,000 after buying an additional 109 shares during the last quarter. Dash Acquisitions Inc. lifted its position in Mastercard by 3.8% in the 4th quarter. Dash Acquisitions Inc. now owns 46,308 shares of the credit services provider’s stock worth $25,347,000 after buying an additional 1,676 shares during the last quarter. Finally, First Bank & Trust lifted its position in Mastercard by 1.6% in the 4th quarter. First Bank & Trust now owns 7,931 shares of the credit services provider’s stock worth $4,176,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 97.28% of the company’s stock.

Mastercard Price Performance

Shares of Mastercard stock opened at $563.61 on Friday. The stock’s 50-day simple moving average is $538.41 and its 200-day simple moving average is $512.53. Mastercard Incorporated has a 52 week low of $428.86 and a 52 week high of $576.94. The company has a market capitalization of $517.30 billion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.39 and a beta of 1.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.68.

Mastercard (NYSE:MA) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $3.82 EPS for the quarter, beating the consensus estimate of $3.71 by $0.11. Mastercard had a return on equity of 188.47% and a net margin of 45.71%. As a group, analysts expect that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Wednesday, April 9th will be given a $0.76 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.54%. Mastercard’s dividend payout ratio is currently 21.89%.

Mastercard announced that its board has approved a share repurchase program on Tuesday, December 17th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts recently weighed in on MA shares. UBS Group boosted their target price on Mastercard from $600.00 to $660.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on Mastercard from $510.00 to $580.00 and gave the company a “buy” rating in a research report on Friday, November 1st. DZ Bank upgraded Mastercard from a “hold” rating to a “buy” rating and set a $620.00 price objective for the company in a research report on Tuesday, February 4th. Morgan Stanley reduced their target price on Mastercard from $654.00 to $644.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on Mastercard from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Mastercard has an average rating of “Moderate Buy” and a consensus price target of $606.11.

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.