JPMorgan Chase & Co. Upgrades MINISO Group (NYSE:MNSO) to “Overweight”

JPMorgan Chase & Co. upgraded shares of MINISO Group (NYSE:MNSO) from a neutral rating to an overweight rating in a research note released on Tuesday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $22.00 price target on the stock, up from their prior price target of $15.00.

A number of other research firms have also commented on MNSO. HSBC started coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They issued a “buy” rating and a $29.30 price target on the stock. Hsbc Global Res raised MINISO Group to a “strong-buy” rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.03.

MINISO Group Stock Up 4.1 %

NYSE MNSO opened at $19.54 on Tuesday. MINISO Group has a twelve month low of $12.51 and a twelve month high of $27.71. The stock has a market cap of $6.10 billion, a PE ratio of 17.60, a PEG ratio of 0.80 and a beta of 0.10. The firm has a 50-day simple moving average of $21.49 and a 200 day simple moving average of $20.50. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14.

MINISO Group (NYSE:MNSO) last issued its earnings results on Friday, March 21st. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $2.61 by ($2.25). The firm had revenue of $646.49 million during the quarter, compared to the consensus estimate of $4.82 billion. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. On average, research analysts forecast that MINISO Group will post 1.19 EPS for the current year.

MINISO Group Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th will be issued a $0.3268 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, April 8th. MINISO Group’s dividend payout ratio is 55.08%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB raised its stake in shares of MINISO Group by 14.9% during the fourth quarter. Nordea Investment Management AB now owns 333,729 shares of the company’s stock worth $8,020,000 after buying an additional 43,151 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of MINISO Group during the 3rd quarter valued at $685,000. Candriam S.C.A. acquired a new position in shares of MINISO Group in the 4th quarter valued at $9,986,000. Citigroup Inc. boosted its position in shares of MINISO Group by 553.7% in 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of MINISO Group during the fourth quarter worth $163,000. 17.16% of the stock is currently owned by institutional investors and hedge funds.

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.