Hsbc Global Res Upgrades MINISO Group (NYSE:MNSO) to “Strong-Buy”

MINISO Group (NYSE:MNSO) was upgraded by equities researchers at Hsbc Global Res to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, HSBC started coverage on shares of MINISO Group in a research note on Wednesday. They issued a “buy” rating and a $29.30 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two 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 a consensus rating of “Moderate Buy” and a consensus price target of $23.70.

MINISO Group Stock Up 0.8 %

MNSO opened at $20.80 on Wednesday. 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’s fifty day simple moving average is $23.16 and its 200 day simple moving average is $19.96. MINISO Group has a 1-year low of $12.51 and a 1-year high of $27.71. The stock has a market cap of $6.50 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 0.80 and a beta of 0.07.

MINISO Group (NYSE:MNSO) last issued 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, research analysts expect that MINISO Group will post 1.19 earnings per share for the current year.

Hedge Funds Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently made changes to their positions in MNSO. LMR Partners LLP acquired a new position in MINISO Group during the third quarter valued at approximately $11,384,000. International Assets Investment Management LLC acquired a new stake in MINISO Group in the third quarter valued at about $923,000. Nordea Investment Management AB grew its position in MINISO Group by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 333,729 shares of the company’s stock valued at $8,020,000 after acquiring an additional 43,151 shares during the last quarter. Erste Asset Management GmbH acquired a new position in MINISO Group during the third quarter worth about $685,000. Finally, Citigroup Inc. raised its stake in MINISO Group by 553.7% during the third quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after acquiring an additional 330,579 shares in the last quarter. 17.16% of the stock is currently 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.