MINISO Group (NYSE:MNSO) Receives Neutral Rating from JPMorgan Chase & Co.

MINISO Group (NYSE:MNSO)‘s stock had its “neutral” rating reissued by investment analysts at JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports. They currently have a $15.00 price target on the stock, down from their previous price target of $27.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.94% from the company’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating on shares of MINISO Group in a research report on Monday. Bank of America lowered shares of MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday.

MINISO Group Price Performance

Shares of MNSO stock traded down $0.32 during trading on Tuesday, hitting $13.40. The company had a trading volume of 12,086,673 shares, compared to its average volume of 1,593,108. MINISO Group has a one year low of $12.51 and a one year high of $28.28. The firm has a market capitalization of $4.23 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.68 and a beta of 0.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.93 and a current ratio of 2.38. The stock’s 50-day moving average price is $16.07 and its 200 day moving average price is $19.44.

MINISO Group (NYSE:MNSO) last announced its earnings results on Friday, August 30th. The company reported $0.26 earnings per share for the quarter. The business had revenue of $555.26 million during the quarter, compared to the consensus estimate of $557.54 million. MINISO Group had a net margin of 15.72% and a return on equity of 26.41%. Equities analysts expect that MINISO Group will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of MINISO Group during the fourth quarter valued at $31,510,000. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its holdings in shares of MINISO Group by 37.8% during the first quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,223,450 shares of the company’s stock valued at $107,081,000 after acquiring an additional 1,433,950 shares in the last quarter. Sylebra Capital LLC acquired a new position in shares of MINISO Group during the first quarter valued at about $19,119,000. Axiom Investors LLC DE boosted its position in MINISO Group by 111.7% in the fourth quarter. Axiom Investors LLC DE now owns 1,646,199 shares of the company’s stock valued at $33,582,000 after buying an additional 868,599 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in MINISO Group by 89.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,707,749 shares of the company’s stock worth $32,567,000 after purchasing an additional 804,706 shares in the last quarter. 17.16% of the stock is 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.