MINISO Group (NYSE:MNSO) Shares Up 3.1% – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO) shares were up 3.1% on Wednesday . The stock traded as high as $19.21 and last traded at $18.81. Approximately 869,762 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,613,546 shares. The stock had previously closed at $18.24.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HSBC started coverage on shares of MINISO Group in a report on Wednesday, February 26th. They set a “buy” rating and a $29.30 target price for the company. JPMorgan Chase & Co. upgraded MINISO Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $15.00 to $22.00 in a research note on Tuesday. Finally, Hsbc Global Res raised MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MINISO Group presently has an average rating of “Moderate Buy” and an average target price of $26.03.

MINISO Group Price Performance

The company has a market capitalization of $5.82 billion, a P/E ratio of 16.77, a PEG ratio of 0.80 and a beta of 0.10. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average price is $21.49 and its 200 day moving average price is $20.50.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings results on Friday, March 21st. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $2.61 by ($2.25). The business had revenue of $646.49 million for the quarter, compared to analyst estimates of $4.82 billion. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. As a group, sell-side analysts forecast that MINISO Group Holding Limited will post 1.19 EPS for the current year.

MINISO Group Dividend Announcement

The company also recently declared a — dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 8th will be paid a $0.3268 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, April 8th. MINISO Group’s payout ratio is 55.08%.

Institutional Trading of MINISO Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in shares of MINISO Group by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock worth $39,000 after acquiring an additional 734 shares during the period. Northern Trust Corp raised its holdings in MINISO Group by 3.3% during the 4th quarter. Northern Trust Corp now owns 24,232 shares of the company’s stock worth $579,000 after purchasing an additional 784 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of MINISO Group by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 66,540 shares of the company’s stock worth $1,167,000 after purchasing an additional 1,027 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of MINISO Group in the 4th quarter valued at $31,000. Finally, Barclays PLC acquired a new stake in shares of MINISO Group during the fourth quarter worth $36,000. 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.