MINISO Group (NYSE:MNSO) Shares Gap Up – Time to Buy?

MINISO Group Holding Limited (NYSE:MNSO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $18.35, but opened at $18.76. MINISO Group shares last traded at $18.45, with a volume of 1,088,109 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on MNSO. JPMorgan Chase & Co. upgraded MINISO Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $15.00 to $22.00 in a report on Tuesday. HSBC started coverage on shares of MINISO Group in a report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price objective on the stock. Finally, Hsbc Global Res raised shares of 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 assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.03.

MINISO Group Trading Up 4.1 %

The firm has a market capitalization of $6.10 billion, a P/E ratio of 17.60, 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 stock has a fifty day simple moving average of $21.56 and a 200 day simple moving average of $20.50.

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

MINISO Group Announces Dividend

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

Institutional Trading of MINISO Group

Several hedge funds have recently made changes to their positions in the business. Citigroup Inc. lifted its position in MINISO Group by 553.7% in the third quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after buying an additional 330,579 shares during the last quarter. FMR LLC raised its holdings in shares of MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after purchasing an additional 2,884 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of MINISO Group in the 3rd quarter valued at $685,000. Centiva Capital LP purchased a new position in MINISO Group in the third quarter valued at about $255,000. Finally, Quantinno Capital Management LP purchased a new position in shares of MINISO Group in the 3rd quarter worth approximately $191,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

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.