MINISO Group (NYSE:MNSO) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of MINISO Group (NYSE:MNSO) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Separately, HSBC began coverage on MINISO Group in a research note on Wednesday. They issued a “buy” rating and a $29.30 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MINISO Group has an average rating of “Moderate Buy” and an average target price of $23.70.

MINISO Group Stock Performance

NYSE MNSO opened at $20.80 on Wednesday. The company has a fifty day moving average of $23.16 and a 200-day moving average of $19.96. MINISO Group has a 52-week low of $12.51 and a 52-week high of $27.71. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.14. The company has a market capitalization of $6.50 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.80 and a beta of 0.07.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings data on Friday, November 29th. The company reported $0.30 earnings per share (EPS) for the quarter. MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. As a group, equities research analysts predict that MINISO Group will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On MINISO Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its position in MINISO Group by 76.6% during the 4th quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 9,201,950 shares of the company’s stock worth $219,835,000 after acquiring an additional 3,992,300 shares during the last quarter. M&G PLC grew its holdings in shares of MINISO Group by 217.5% in the third quarter. M&G PLC now owns 3,611,656 shares of the company’s stock worth $65,010,000 after purchasing an additional 2,474,207 shares during the last quarter. HCEP Management Ltd purchased a new position in shares of MINISO Group in the fourth quarter worth $40,613,000. LMR Partners LLP bought a new stake in MINISO Group during the 3rd quarter valued at $11,384,000. Finally, Candriam S.C.A. bought a new stake in MINISO Group during the 4th quarter valued at $9,986,000. Institutional investors own 17.16% of the company’s stock.

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.