MINISO Group (NYSE:MNSO) Shares Down 5.1% – Here’s What Happened

MINISO Group Holding Limited (NYSE:MNSO)’s share price dropped 5.1% on Thursday . The stock traded as low as $17.04 and last traded at $17.05. 154,216 shares traded hands during trading, a decline of 92% from the average session volume of 1,858,540 shares. The stock had previously closed at $17.96.

Analysts Set New Price Targets

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

MINISO Group Trading Down 6.8 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 2.38 and a quick ratio of 1.93. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.73 and a beta of 0.15. The business has a 50 day moving average of $17.49 and a 200 day moving average of $18.78.

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

MINISO Group Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were paid 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 dividend payout ratio is presently 49.07%.

Institutional Trading of MINISO Group

A number of hedge funds have recently made changes to their positions in MNSO. M&G PLC grew its stake in MINISO Group by 217.5% during the third quarter. M&G PLC now owns 3,611,656 shares of the company’s stock worth $65,010,000 after buying an additional 2,474,207 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its position in shares of MINISO Group by 37.8% during the 1st quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,223,450 shares of the company’s stock worth $107,081,000 after buying an additional 1,433,950 shares during the period. Sylebra Capital LLC acquired a new stake in shares of MINISO Group during the 1st quarter worth approximately $19,119,000. Point72 Hong Kong Ltd grew its position in shares of MINISO Group by 89.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock worth $32,567,000 after buying an additional 804,706 shares during the period. Finally, LMR Partners LLP acquired a new stake in shares of MINISO Group during the 3rd quarter worth approximately $11,384,000. 17.16% of the stock is 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.