MINISO Group (NYSE:MNSO) Shares Gap Up - Here's Why

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $18.35, but opened at $18.76. MINISO Group shares last traded at $18.45, with a volume of 1,088,109 shares changing hands.

Analysts Set New Price Targets

MNSO has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of MINISO Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $15.00 to $22.00 in a research report on Tuesday. HSBC started coverage on MINISO Group in a research note on Wednesday, February 26th. They set a "buy" rating and a $29.30 target price on the stock. Finally, Hsbc Global Res upgraded MINISO Group to a "strong-buy" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MINISO Group currently has an average rating of "Moderate Buy" and an average target price of $26.03.

MINISO Group Stock Performance

The business's 50-day moving average price is $21.39 and its 200-day moving average price is $20.51. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.82 billion, a PE ratio of 16.77, a P/E/G ratio of 0.80 and a beta of 0.10.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its quarterly earnings data on Friday, March 21st. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $2.61 by ($2.25). The firm had revenue of $646.49 million during the quarter, compared to analyst estimates of $4.82 billion. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, equities research analysts expect that MINISO Group Holding Limited will post 1.19 earnings per share for the current fiscal year.

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MINISO Group Dividend Announcement

The business also recently declared a -- dividend, which will be paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th will be paid 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 presently 55.08%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of MINISO Group by 83.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company's stock worth $39,000 after acquiring an additional 734 shares during the period. Northern Trust Corp raised its position in MINISO Group by 3.3% in the 4th quarter. Northern Trust Corp now owns 24,232 shares of the company's stock valued at $579,000 after purchasing an additional 784 shares in the last quarter. Geode Capital Management LLC grew its holdings in MINISO Group by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 66,540 shares of the company's stock worth $1,167,000 after acquiring an additional 1,027 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in MINISO Group in the fourth quarter valued at $31,000. Finally, Barclays PLC purchased a new position in shares of MINISO Group during the fourth quarter worth about $36,000. 17.16% of the stock is 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.