Meiji Yasuda Asset Management Co Ltd. Has $4.43 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,602 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in MercadoLibre were worth $4,425,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wealthfront Advisers LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $565,306,000. Strategic Financial Concepts LLC boosted its stake in MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after purchasing an additional 181,849 shares during the period. FMR LLC increased its holdings in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre in the third quarter valued at about $114,417,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.7 %

Shares of NASDAQ MELI opened at $2,191.30 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $111.09 billion, a P/E ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company’s 50 day moving average price is $2,014.23 and its 200-day moving average price is $1,972.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on MELI. Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Susquehanna lifted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.