MINISO Group (NYSE:MNSO) Trading Down 6.7% – Here’s Why

Shares of MINISO Group Holding Limited (NYSE:MNSO) dropped 6.7% during trading on Thursday . The company traded as low as $15.28 and last traded at $15.37. Approximately 292,987 shares traded hands during trading, a decline of 84% from the average daily volume of 1,837,665 shares. The stock had previously closed at $16.47.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MNSO. Jefferies Financial Group restated a “hold” rating on shares of MINISO Group in a research report on Monday, September 23rd. Dbs Bank raised MINISO Group to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America lowered MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $15.00 price target (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Finally, Citigroup began coverage on MINISO Group in a report on Friday, October 4th. They issued a “buy” rating and a $26.80 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MINISO Group has a consensus rating of “Hold” and an average price target of $20.90.

MINISO Group Stock Performance

The company has a market cap of $4.77 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 0.74 and a beta of 0.18. The stock’s fifty day simple moving average is $16.44 and its 200 day simple moving average is $19.17. The company has a current ratio of 2.38, a quick ratio of 1.93 and a debt-to-equity ratio of 0.15.

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

MINISO Group Announces Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were given a dividend of $0.274 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 1.6%. MINISO Group’s payout ratio is 49.06%.

Institutional Investors Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in MINISO Group in the 2nd quarter valued at about $26,000. Blue Trust Inc. raised its position in shares of MINISO Group by 3,098.4% during the 2nd quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after buying an additional 1,890 shares during the period. Headlands Technologies LLC acquired a new position in MINISO Group in the first quarter valued at approximately $93,000. Banque Cantonale Vaudoise purchased a new position in MINISO Group in the second quarter worth approximately $118,000. Finally, Bayesian Capital Management LP acquired a new stake in MINISO Group during the first quarter worth $201,000. 17.16% of the stock is currently owned by institutional investors and hedge funds.

MINISO Group Company Profile

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.