Nordea Investment Management AB Boosts Holdings in MINISO Group Holding Limited (NYSE:MNSO)

Nordea Investment Management AB grew its position in shares of MINISO Group Holding Limited (NYSE:MNSO) by 14.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,729 shares of the company’s stock after purchasing an additional 43,151 shares during the period. Nordea Investment Management AB owned approximately 0.11% of MINISO Group worth $8,020,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in MINISO Group during the second quarter worth about $26,000. FMR LLC boosted its position in shares of MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock valued at $73,000 after acquiring an additional 2,884 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in shares of MINISO Group during the third quarter worth about $78,000. Blue Trust Inc. raised its stake in MINISO Group by 167.0% in the third quarter. Blue Trust Inc. now owns 5,210 shares of the company’s stock valued at $99,000 after purchasing an additional 3,259 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in MINISO Group during the third quarter valued at approximately $191,000. Institutional investors own 17.16% of the company’s stock.

MINISO Group Stock Down 1.7 %

Shares of MINISO Group stock opened at $24.96 on Friday. The company’s fifty day simple moving average is $21.79 and its two-hundred day simple moving average is $18.71. MINISO Group Holding Limited has a 12-month low of $12.51 and a 12-month high of $27.71. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The company has a market cap of $7.85 billion, a P/E ratio of 22.49, a PEG ratio of 1.05 and a beta of 0.08.

Analysts Set New Price Targets

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