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

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on MNSO. Hsbc Global Res upgraded MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded MINISO Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $15.00 to $22.00 in a research note on Tuesday. Finally, HSBC initiated coverage on shares of MINISO Group in a research note on Wednesday, February 26th. They set a “buy” rating and a $29.30 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued 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, MINISO Group has a consensus rating of “Moderate Buy” and a consensus target price of $26.03.

MINISO Group Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The stock has a market cap of $5.87 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.80 and a beta of 0.10. The company has a 50-day simple moving average of $21.64 and a 200-day simple moving average of $20.52.

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

MINISO Group Announces Dividend

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

Hedge Funds Weigh In On MINISO Group

Several large investors have recently made changes to their positions in MNSO. Nordea Investment Management AB lifted its position in MINISO Group by 14.9% during the 4th quarter. Nordea Investment Management AB now owns 333,729 shares of the company’s stock valued at $8,020,000 after purchasing an additional 43,151 shares during the period. Erste Asset Management GmbH acquired a new position in MINISO Group in the third quarter valued at approximately $685,000. Candriam S.C.A. bought a new position in MINISO Group in the fourth quarter valued at approximately $9,986,000. Citigroup Inc. grew its holdings in MINISO Group by 553.7% during the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after acquiring an additional 330,579 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of MINISO Group during the 4th quarter valued at $163,000. Institutional investors and hedge funds own 17.16% of the company’s stock.

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.