Citigroup Begins Coverage on MINISO Group (NYSE:MNSO)

Citigroup began coverage on shares of MINISO Group (NYSE:MNSO) in a research note released on Friday, Marketbeat.com reports. The firm issued a buy rating and a $26.80 price objective on the stock.

Several other research firms also recently commented on MNSO. Jefferies Financial Group reaffirmed a hold rating on shares of MINISO Group in a report on Monday, September 23rd. Bank of America downgraded shares of MINISO Group from a buy rating to an underperform rating in a report on Monday, September 23rd. Dbs Bank raised shares of MINISO Group to a strong-buy rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a $15.00 price objective (down from $27.00) on shares of MINISO Group in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MINISO Group currently has a consensus rating of Hold and an average price target of $20.90.

MINISO Group Stock Performance

Shares of MINISO Group stock opened at $20.62 on Friday. The firm has a market capitalization of $6.51 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 0.56 and a beta of 0.18. The business’s fifty day simple moving average is $16.04 and its 200 day simple moving average is $19.31. The company has a current ratio of 2.38, a quick ratio of 1.93 and a debt-to-equity ratio of 0.15. MINISO Group has a 12 month low of $12.51 and a 12 month high of $28.28.

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

MINISO Group Announces Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, September 13th were issued a $0.274 dividend. This represents a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, September 13th. MINISO Group’s payout ratio is 49.06%.

Institutional Investors Weigh In On MINISO Group

A number of institutional investors and hedge funds have recently modified their holdings of MNSO. Cubist Systematic Strategies LLC raised its stake in MINISO Group by 9.1% in the second quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company’s stock valued at $215,000 after purchasing an additional 942 shares in the last quarter. XTX Topco Ltd raised its stake in MINISO Group by 10.6% in the second quarter. XTX Topco Ltd now owns 13,861 shares of the company’s stock valued at $264,000 after purchasing an additional 1,326 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MINISO Group in the second quarter valued at approximately $26,000. Blue Trust Inc. raised its stake in MINISO Group by 3,098.4% in the second quarter. Blue Trust Inc. now owns 1,951 shares of the company’s stock valued at $40,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in MINISO Group by 5.6% in the first quarter. Janney Montgomery Scott LLC now owns 43,286 shares of the company’s stock valued at $887,000 after purchasing an additional 2,301 shares in the last quarter. 17.16% of the stock is owned by hedge funds and other institutional investors.

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.