MINISO Group Holding Limited (NYSE:MNSO) Shares Sold by State Street Corp

State Street Corp lowered its holdings in shares of MINISO Group Holding Limited (NYSE:MNSO) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,077,704 shares of the company’s stock after selling 103,759 shares during the period. State Street Corp’s holdings in MINISO Group were worth $18,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Quantinno Capital Management LP acquired a new position in shares of MINISO Group during the 3rd quarter worth approximately $191,000. Centiva Capital LP acquired a new position in shares of MINISO Group in the third quarter worth $255,000. Erste Asset Management GmbH purchased a new stake in shares of MINISO Group in the third quarter valued at $685,000. FMR LLC increased its position in MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after purchasing an additional 2,884 shares in the last quarter. Finally, Citigroup Inc. increased its position in MINISO Group by 553.7% during the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after purchasing an additional 330,579 shares in the last quarter. Hedge funds and other institutional investors own 17.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Bank of America cut shares of MINISO Group from a “buy” rating to an “underperform” rating in a research note on Monday, September 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of MINISO Group in a research note on Monday, September 23rd. 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 report on Tuesday, September 24th. Dbs Bank raised MINISO Group to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Citigroup started coverage on MINISO Group in a research report on Friday, October 4th. They set a “buy” rating and a $26.80 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.90.

MINISO Group Stock Performance

NYSE:MNSO opened at $24.14 on Tuesday. MINISO Group Holding Limited has a fifty-two week low of $12.51 and a fifty-two week high of $25.50. The firm’s 50 day moving average is $19.84 and its two-hundred day moving average is $18.31. The company has a market cap of $7.60 billion, a P/E ratio of 21.75, a P/E/G ratio of 1.05 and a beta of 0.14. 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 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.