Principal Financial Group Inc. Has $110.05 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• Principal Financial Group raised its stake in MercadoLibre by 13.6% in Q4 to 54,637 shares worth about $110.05 million, equal to roughly 0.11% of the company.
• MercadoLibre reported quarterly EPS of $11.03 and revenue of $8.76 billion, with a market cap near $93.3 billion, a P/E of 46.73, and a one-year trading range of about $1,593–$2,645.
• Analyst sentiment is mixed: the consensus is a "Moderate Buy" with an average target of $2,685.33, but several firms (including UBS, JPMorgan and Zacks) recently lowered price targets or ratings.

Principal Financial Group Inc. increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,637 shares of the company's stock after acquiring an additional 6,534 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of MercadoLibre worth $110,053,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $29,000. Holos Integrated Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $32,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of MercadoLibre during the third quarter worth approximately $35,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre in the third quarter valued at approximately $35,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 1.3%

Shares of MELI stock opened at $1,841.14 on Thursday. The stock has a market cap of $93.34 billion, a P/E ratio of 46.73, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. MercadoLibre, Inc. has a one year low of $1,593.21 and a one year high of $2,645.22. The stock has a fifty day moving average price of $1,756.86 and a 200 day moving average price of $1,968.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm had revenue of $8.76 billion for the quarter. Analysts predict that MercadoLibre, Inc. will post 47.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. UBS Group dropped their target price on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. lowered shares of MercadoLibre from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. Zacks Research downgraded shares of MercadoLibre from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 22nd. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Finally, Wedbush decreased their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $2,685.33.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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