MINISO Group (NYSE:MNSO) Coverage Initiated by Analysts at Citigroup

Investment analysts at Citigroup assumed coverage on shares of MINISO Group (NYSE:MNSO) in a report released on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $26.80 price target on the stock. Citigroup’s price objective suggests a potential upside of 29.97% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Dbs Bank raised MINISO Group to a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $15.00 price target (down from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Jefferies Financial Group reaffirmed a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. Finally, Bank of America downgraded shares of MINISO Group from a “buy” rating to an “underperform” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.90.

MINISO Group Stock Performance

MINISO Group stock opened at $20.62 on Friday. The stock has a market cap of $6.51 billion, a PE ratio of 19.45, a P/E/G ratio of 0.56 and a beta of 0.18. The company has a quick ratio of 1.93, a current ratio of 2.38 and a debt-to-equity ratio of 0.15. MINISO Group has a 12-month low of $12.51 and a 12-month high of $28.28. The business’s 50-day moving average price is $16.04 and its two-hundred day moving average price is $19.32.

MINISO Group (NYSE:MNSO) last released its quarterly earnings data on Friday, August 30th. The company reported $0.26 earnings per share (EPS) for the quarter. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. The business had revenue of $555.26 million during the quarter, compared to analysts’ expectations of $557.54 million. As a group, analysts expect that MINISO Group will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MINISO Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MNSO. Cubist Systematic Strategies LLC raised its holdings in MINISO Group by 9.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company’s stock worth $215,000 after purchasing an additional 942 shares during the last quarter. XTX Topco Ltd increased its position in shares of MINISO Group by 10.6% during the second quarter. XTX Topco Ltd now owns 13,861 shares of the company’s stock worth $264,000 after buying an additional 1,326 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in MINISO Group during the second quarter worth $26,000. Blue Trust Inc. boosted its position in MINISO Group by 3,098.4% during the second quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after acquiring an additional 1,890 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in MINISO Group by 5.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,286 shares of the company’s stock worth $887,000 after acquiring an additional 2,301 shares during the period. 17.16% of the stock is owned by institutional investors and hedge funds.

About MINISO Group

MINISO Group Holding Limited, an investment holding company, engages in the retail and wholesale of lifestyle products and pop toy products in China, Asia, the United States, and Europe. The company offers products in various categories, including home decor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, and stationeries and gifts under the MINISO and WonderLife brand names; and blind boxes, toy bricks, model figures, model kits, collectible dolls, Ichiban Kuji, sculptures, and other popular toys under the TOP TOY brand.