JPMorgan Chase & Co. Reduces Position in MINISO Group Holding Limited (NYSE:MNSO)

JPMorgan Chase & Co. trimmed its holdings in MINISO Group Holding Limited (NYSE:MNSO - Free Report) by 95.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,182 shares of the company's stock after selling 457,779 shares during the quarter. JPMorgan Chase & Co.'s holdings in MINISO Group were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in MINISO Group by 9.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,249 shares of the company's stock valued at $215,000 after buying an additional 942 shares in the last quarter. Squarepoint Ops LLC bought a new stake in MINISO Group in the 2nd quarter valued at about $1,037,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in MINISO Group in the 2nd quarter valued at about $26,000. Mackenzie Financial Corp increased its position in MINISO Group by 4.4% in the 2nd quarter. Mackenzie Financial Corp now owns 193,291 shares of the company's stock valued at $3,686,000 after buying an additional 8,156 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in MINISO Group by 5.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 379,100 shares of the company's stock valued at $7,229,000 after buying an additional 19,000 shares in the last quarter. 17.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Citigroup began coverage on MINISO Group in a report on Friday, October 4th. They set a "buy" rating and a $26.80 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $20.90.

MINISO Group Price Performance

Shares of MINISO Group stock traded up $0.65 during trading on Thursday, hitting $23.67. The stock had a trading volume of 548,643 shares, compared to its average volume of 1,178,270. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 0.82 and a beta of 0.08. MINISO Group Holding Limited has a 12 month low of $12.51 and a 12 month high of $27.71. The business's 50-day moving average is $23.13 and its 200 day moving average is $19.12. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

MINISO Group (NYSE:MNSO - Get Free Report) last released its quarterly earnings results on Friday, November 29th. The company reported $0.30 earnings per share for the quarter. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, sell-side analysts anticipate that MINISO Group Holding Limited will post 1.19 earnings per share for the current year.

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.