JPMorgan Chase & Co. Begins Coverage on MINISO Group (NYSE:MNSO)

JPMorgan Chase & Co. assumed coverage on shares of MINISO Group (NYSE:MNSO) in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $30.00 price target on the stock.

MINISO Group Trading Down 0.7 %

NYSE MNSO traded down $0.18 during trading on Tuesday, reaching $24.02. 1,358,302 shares of the stock traded hands, compared to its average volume of 1,592,009. MINISO Group has a fifty-two week low of $14.46 and a fifty-two week high of $29.92. The company has a quick ratio of 1.91, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 0.92 and a beta of 0.23. The stock’s 50-day moving average price is $20.37 and its 200 day moving average price is $21.30.

MINISO Group (NYSE:MNSO) last posted its earnings results on Tuesday, March 12th. The company reported $0.29 earnings per share (EPS) for the quarter. MINISO Group had a return on equity of 25.43% and a net margin of 16.28%. The business had revenue of $541.04 million during the quarter. Analysts predict that MINISO Group will post 1.24 EPS for the current year.

MINISO Group Dividend Announcement

The company also recently announced a None dividend, which was paid on Friday, April 12th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.29 per share. This represents a yield of 2%. The ex-dividend date of this dividend was Wednesday, March 27th. MINISO Group’s dividend payout ratio (DPR) is presently 38.24%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in MINISO Group by 95.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the company’s stock valued at $26,000 after acquiring an additional 492 shares in the last quarter. Avalon Trust Co acquired a new position in MINISO Group during the fourth quarter worth $26,000. Patriot Financial Group Insurance Agency LLC bought a new position in MINISO Group in the fourth quarter valued at $206,000. Handelsinvest Investeringsforvaltning acquired a new stake in shares of MINISO Group in the fourth quarter valued at about $231,000. Finally, Jump Financial LLC bought a new stake in shares of MINISO Group during the 4th quarter worth approximately $231,000. 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.