MINISO Group (NYSE:MNSO) Raised to “Hold” at Zacks Research

MINISO Group (NYSE:MNSO) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of MINISO Group from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Weiss Ratings downgraded shares of MINISO Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen raised shares of MINISO Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.73.

MINISO Group Stock Up 3.7%

Shares of MINISO Group stock opened at $12.97 on Tuesday. The firm has a market cap of $4.02 billion, a PE ratio of 13.80, a P/E/G ratio of 1.55 and a beta of 0.10. The business’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $15.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.14 and a current ratio of 1.53. MINISO Group has a 52-week low of $11.12 and a 52-week high of $26.74.

MINISO Group (NYSE:MNSO) last released its quarterly earnings results on Friday, May 15th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.17). The firm had revenue of $825.04 million for the quarter, compared to analyst estimates of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. On average, analysts predict that MINISO Group will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Guofu Ye bought 1,950,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $3.28 per share, for a total transaction of $6,396,000.00. Following the completion of the acquisition, the chief executive officer owned 315,590,482 shares in the company, valued at approximately $1,035,136,780.96. This represents a 0.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Yunyun (Alice) Yang acquired 1,950,000 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $3.28 per share, for a total transaction of $6,396,000.00. Following the completion of the purchase, the vice president directly owned 315,590,482 shares in the company, valued at $1,035,136,780.96. The trade was a 0.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 4,200,000 shares of company stock worth $13,797,000. 73.50% of the stock is owned by corporate insiders.

Institutional Trading of MINISO Group

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of MINISO Group by 66.4% during the 1st quarter. Royal Bank of Canada now owns 26,928 shares of the company’s stock worth $498,000 after acquiring an additional 10,747 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in MINISO Group by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 315,424 shares of the company’s stock valued at $5,832,000 after purchasing an additional 5,086 shares during the last quarter. Creative Planning boosted its position in MINISO Group by 45.1% during the second quarter. Creative Planning now owns 16,662 shares of the company’s stock worth $304,000 after purchasing an additional 5,177 shares during the period. American Century Companies Inc. boosted its position in MINISO Group by 0.4% during the second quarter. American Century Companies Inc. now owns 133,224 shares of the company’s stock worth $2,427,000 after purchasing an additional 595 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of MINISO Group by 37.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock valued at $41,000 after purchasing an additional 608 shares during the last quarter. 17.16% of the stock is owned by institutional investors and hedge funds.

MINISO Group Company Profile

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.