Geode Capital Management LLC Boosts Position in MINISO Group Holding Limited (NYSE:MNSO)

Geode Capital Management LLC raised its stake in MINISO Group Holding Limited (NYSE:MNSO) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 66,540 shares of the company’s stock after buying an additional 1,027 shares during the period. Geode Capital Management LLC’s holdings in MINISO Group were worth $1,167,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its stake in shares of MINISO Group by 3.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 19,573 shares of the company’s stock valued at $378,000 after acquiring an additional 690 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in MINISO Group by 9.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company’s stock worth $215,000 after purchasing an additional 942 shares during the period. XTX Topco Ltd increased its holdings in MINISO Group by 10.6% during the 2nd quarter. XTX Topco Ltd now owns 13,861 shares of the company’s stock worth $264,000 after purchasing an additional 1,326 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in MINISO Group during the 2nd quarter valued at $26,000. Finally, FMR LLC lifted 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 worth $73,000 after buying an additional 2,884 shares during the period. 17.16% of the stock is currently owned by institutional investors.

MINISO Group Trading Down 1.7 %

NYSE:MNSO opened at $24.96 on Friday. The firm has a 50 day moving average of $21.79 and a 200 day moving average of $18.71. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. MINISO Group Holding Limited has a 52 week low of $12.51 and a 52 week high of $27.71. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.05 and a beta of 0.08.

Wall Street Analysts Forecast Growth

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

MINISO Group 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.