TIAA CREF Investment Management LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 0.4% during the first quarter, Holdings Channel reports. The firm owned 6,101 shares of the company’s stock after selling 25 shares during the period. TIAA CREF Investment Management LLC’s holdings in MercadoLibre were worth $1,290,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of MELI. Wedbush Securities Inc. boosted its stake in shares of MercadoLibre by 0.5% in the first quarter. Wedbush Securities Inc. now owns 3,125 shares of the company’s stock valued at $661,000 after buying an additional 16 shares during the period. Mn Services Vermogensbeheer B.V. boosted its stake in shares of MercadoLibre by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,060 shares of the company’s stock valued at $210,000 after buying an additional 31 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of MercadoLibre by 7.3% in the first quarter. Van ECK Associates Corp now owns 735 shares of the company’s stock valued at $155,000 after buying an additional 50 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of MercadoLibre by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 2,300 shares of the company’s stock valued at $486,000 after buying an additional 100 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of MercadoLibre by 1.9% in the first quarter. Blair William & Co. IL now owns 9,225 shares of the company’s stock valued at $1,945,000 after buying an additional 172 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MercadoLibre, Inc. (NASDAQ MELI) traded down 0.382% during mid-day trading on Tuesday, hitting $236.035. The company had a trading volume of 51,226 shares. MercadoLibre, Inc. has a 52-week low of $148.98 and a 52-week high of $297.95. The firm has a market capitalization of $10.42 billion, a price-to-earnings ratio of 72.337 and a beta of 2.05. The firm has a 50-day moving average price of $267.03 and a 200 day moving average price of $242.07.
MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.45. The company had revenue of $316.53 million for the quarter, compared to analysts’ expectations of $312.16 million. MercadoLibre had a return on equity of 37.59% and a net margin of 13.37%. The business’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Analysts expect that MercadoLibre, Inc. will post $3.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. MercadoLibre’s payout ratio is currently 18.40%.
Several equities research analysts have weighed in on the company. Credit Suisse Group boosted their price objective on MercadoLibre from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $275.00 price objective (up from $213.00) on shares of MercadoLibre in a research note on Tuesday, May 9th. BidaskClub cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. J P Morgan Chase & Co reissued a “neutral” rating and set a $270.00 price objective on shares of MercadoLibre in a research note on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) cut MercadoLibre from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $309.00 to $290.00 in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $261.69.
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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