MINISO Group (NYSE:MNSO) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

MINISO Group (NYSE:MNSO) had its price objective lowered by JPMorgan Chase & Co. from $26.00 to $16.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also issued reports on MNSO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MINISO Group in a research report on Friday, March 27th. Zacks Research raised MINISO Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 5th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, MINISO Group presently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

MINISO Group Trading Up 3.2%

Shares of MNSO stock opened at $12.97 on Friday. The stock’s fifty day moving average price is $15.10 and its two-hundred day moving average price is $17.79. The company has a market cap of $4.02 billion, a PE ratio of 13.80, a P/E/G ratio of 1.19 and a beta of 0.14. MINISO Group has a fifty-two week low of $12.30 and a fifty-two week high of $26.74. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.23 and a current ratio of 1.53.

MINISO Group (NYSE:MNSO) last issued its earnings results on Friday, May 15th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). MINISO Group had a net margin of 9.03% and a return on equity of 18.98%. The business had revenue of $825.04 million during the quarter, compared to analyst estimates of $805.60 million. Equities analysts predict that MINISO Group will post 1.47 EPS for the current fiscal year.

MINISO Group Announces Dividend

The business also recently declared a dividend, which was paid on Monday, May 4th. Shareholders of record on Monday, April 20th were paid a dividend of $0.3764 per share. The ex-dividend date was Monday, April 20th. This represents a yield of 479.0%. MINISO Group’s payout ratio is 135.19%.

Hedge Funds Weigh In On MINISO Group

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of MINISO Group in the 3rd quarter worth approximately $25,000. Parallel Advisors LLC raised its holdings in MINISO Group by 794.7% during the 1st quarter. Parallel Advisors LLC now owns 2,192 shares of the company’s stock valued at $36,000 after acquiring an additional 1,947 shares during the period. EverSource Wealth Advisors LLC raised its holdings in MINISO Group by 37.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,223 shares of the company’s stock valued at $41,000 after acquiring an additional 608 shares during the period. PNC Financial Services Group Inc. raised its holdings in MINISO Group by 28.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,480 shares of the company’s stock valued at $56,000 after acquiring an additional 547 shares during the period. Finally, Hantz Financial Services Inc. raised its holdings in MINISO Group by 137.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,087 shares of the company’s stock valued at $114,000 after acquiring an additional 2,948 shares during the period. Institutional investors and hedge funds own 17.16% of the company’s stock.

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.