MercadoLibre, Inc. (NASDAQ:MELI) is Northcape Capital Pty Ltd’s 8th Largest Position

Northcape Capital Pty Ltd raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 30.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,387 shares of the company’s stock after buying an additional 21,330 shares during the period. MercadoLibre makes up approximately 6.8% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 8th largest position. Northcape Capital Pty Ltd’s holdings in MercadoLibre were worth $23,040,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of MercadoLibre by 3.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,039 shares of the company’s stock valued at $1,277,000 after buying an additional 176 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in shares of MercadoLibre by 6.5% in the first quarter. Cookson Peirce & Co. Inc. now owns 18,580 shares of the company’s stock valued at $3,929,000 after buying an additional 1,130 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of MercadoLibre by 14.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,196 shares of the company’s stock valued at $675,000 after buying an additional 410 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in shares of MercadoLibre by 20.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,000 shares of the company’s stock valued at $634,000 after buying an additional 500 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of MercadoLibre during the first quarter valued at about $169,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Shares of MercadoLibre, Inc. (NASDAQ:MELI) opened at 260.47 on Monday. The stock has a market capitalization of $11.50 billion, a P/E ratio of 74.38 and a beta of 2.05. The stock’s 50 day moving average price is $270.73 and its 200-day moving average price is $237.44. MercadoLibre, Inc. has a 1-year low of $148.98 and a 1-year high of $297.95.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.45. The firm had revenue of $316.53 million during the quarter, compared to the consensus estimate of $312.16 million. MercadoLibre had a net margin of 13.37% and a return on equity of 38.10%. The business’s revenue for the quarter was up 58.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post $4.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a $0.15 dividend. 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 0.23%. MercadoLibre’s dividend payout ratio (DPR) is 18.40%.

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Several brokerages recently issued reports on MELI. J P Morgan Chase & Co downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $296.24 to $300.00 in a research note on Tuesday, May 16th. Bank of America Corporation increased their price objective on MercadoLibre from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Susquehanna Bancshares Inc reissued a “market perform” rating and issued a $275.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 1st. Credit Suisse Group increased 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. Finally, Barclays PLC reduced their price objective on MercadoLibre from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. MercadoLibre presently has an average rating of “Hold” and an average price target of $259.91.

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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