Geode Capital Management LLC Purchases 6,627 Shares of MercadoLibre, Inc. (MELI)
Geode Capital Management LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 10.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 68,765 shares of the company’s stock after buying an additional 6,627 shares during the period. Geode Capital Management LLC owned 0.16% of MercadoLibre worth $14,517,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. FIL Ltd boosted its position in shares of MercadoLibre by 14.3% in the first quarter. FIL Ltd now owns 34,716 shares of the company’s stock worth $7,341,000 after buying an additional 4,347 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of MercadoLibre by 9.1% in the first quarter. SG Americas Securities LLC now owns 12,197 shares of the company’s stock valued at $2,579,000 after buying an additional 1,021 shares during the period. Norges Bank bought a new position in shares of MercadoLibre during the fourth quarter valued at $36,985,000. Virginia Retirement Systems ET AL boosted its position in shares of MercadoLibre by 19.4% in the first quarter. Virginia Retirement Systems ET AL now owns 15,400 shares of the company’s stock valued at $3,257,000 after buying an additional 2,500 shares during the period. Finally, Orbis Allan Gray Ltd boosted its position in shares of MercadoLibre by 105.1% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,360,358 shares of the company’s stock valued at $212,407,000 after buying an additional 697,057 shares during the period. Institutional investors own 91.32% of the company’s stock.
Shares of MercadoLibre, Inc. (NASDAQ MELI) opened at 280.26 on Friday. The company has a market capitalization of $12.38 billion, a PE ratio of 80.03 and a beta of 2.02. The stock’s 50 day moving average price is $269.54 and its 200-day moving average price is $230.42. MercadoLibre, Inc. has a 1-year low of $148.71 and a 1-year high of $297.95.
MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 4th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.32. MercadoLibre had a return on equity of 41.12% and a net margin of 16.10%. The firm had revenue of $273.90 million for the quarter, compared to analysts’ expectations of $247.85 million. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 73.8% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post $4.70 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.21%. MercadoLibre’s dividend payout ratio is currently 17.14%.
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Several equities analysts have weighed in on MELI shares. Barclays PLC restated a “buy” rating and set a $275.00 price objective on shares of MercadoLibre in a research note on Sunday, May 7th. Credit Suisse Group raised their price objective on MercadoLibre from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Goldman Sachs Group, Inc. (The) cut MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $309.00 to $290.00 in a research note on Tuesday, June 13th. J P Morgan Chase & Co cut MercadoLibre from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $296.24 to $300.00 in a research note on Tuesday, May 16th. Finally, Zacks Investment Research cut MercadoLibre from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $256.69.
MercadoLibre Company Profile
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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