MINISO Group (NYSE:MNSO) Shares Gap Up – Here’s Why

Shares of MINISO Group Holding Limited (NYSE:MNSO) gapped up prior to trading on Monday . The stock had previously closed at $17.41, but opened at $18.91. MINISO Group shares last traded at $19.01, with a volume of 440,719 shares changing hands.

Analysts Set New Price Targets

MNSO has been the topic of several recent research reports. Citigroup initiated coverage on shares of MINISO Group in a research report on Friday, October 4th. They set a “buy” rating and a $26.80 target price on the stock. 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 issued a $15.00 target price (down from $27.00) on shares of MINISO Group 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. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.90.

MINISO Group Stock Up 0.2 %

The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.72 and a beta of 0.18. The firm has a fifty day moving average price of $16.83 and a 200 day moving average price of $18.93. 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 data on Friday, August 30th. The company reported $0.26 EPS for the quarter. MINISO Group had a return on equity of 26.41% and a net margin of 15.72%. The company had revenue of $555.26 million for the quarter, compared to analyst estimates of $557.54 million. Sell-side analysts anticipate that MINISO Group Holding Limited will post 1.23 EPS for the current fiscal year.

MINISO Group Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were issued a dividend of $0.274 per share. This represents a yield of 1.6%. The ex-dividend date of this dividend was Friday, September 13th. MINISO Group’s dividend payout ratio is currently 48.15%.

Hedge Funds Weigh In On MINISO Group

A number of large investors have recently modified their holdings of MNSO. Point72 Asia Singapore Pte. Ltd. bought a new position in MINISO Group in the 2nd quarter worth approximately $26,000. Blue Trust Inc. raised its position in shares of MINISO Group by 3,098.4% during the second quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock worth $40,000 after acquiring an additional 1,890 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of MINISO Group during the first quarter valued at $93,000. Banque Cantonale Vaudoise bought a new position in MINISO Group in the second quarter valued at about $118,000. Finally, Bayesian Capital Management LP acquired a new stake in MINISO Group in the first quarter worth about $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.