State Street Corp Sells 103,759 Shares of MINISO Group Holding Limited (NYSE:MNSO)

State Street Corp reduced its stake in MINISO Group Holding Limited (NYSE:MNSO - Free Report) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,077,704 shares of the company's stock after selling 103,759 shares during the period. State Street Corp owned 0.34% of MINISO Group worth $18,903,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in MINISO Group during the second quarter worth $26,000. FMR LLC lifted its position in MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company's stock valued at $73,000 after acquiring an additional 2,884 shares in the last quarter. Venturi Wealth Management LLC bought a new position in MINISO Group in the 3rd quarter valued at about $78,000. Blue Trust Inc. boosted its stake in MINISO Group by 167.0% during the 3rd quarter. Blue Trust Inc. now owns 5,210 shares of the company's stock valued at $99,000 after purchasing an additional 3,259 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in MINISO Group during the 2nd quarter worth approximately $118,000. Institutional investors and hedge funds own 17.16% of the company's stock.

MINISO Group Trading Up 2.8 %

MNSO traded up $0.67 during midday trading on Tuesday, reaching $24.81. 732,633 shares of the company's stock traded hands, compared to its average volume of 1,849,791. MINISO Group Holding Limited has a 52 week low of $12.51 and a 52 week high of $25.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.14 and a quick ratio of 1.66. The firm has a fifty day moving average of $19.96 and a two-hundred day moving average of $18.33. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.05 and a beta of 0.14.

Wall Street Analysts Forecast Growth

MNSO has been the subject of a number of analyst reports. Dbs Bank raised MINISO Group to a "strong-buy" rating in a research report on Tuesday, September 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of MINISO Group in a report on Monday, September 23rd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $15.00 price objective (down previously from $27.00) on shares of MINISO Group in a research note on Tuesday, September 24th. Bank of America lowered shares of MINISO Group from a "buy" rating to an "underperform" rating in a research report on Monday, September 23rd. Finally, Citigroup initiated coverage on shares of MINISO Group in a research note on Friday, October 4th. They issued 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 issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.90.

About MINISO Group

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.