MINISO Group (NYSE:MNSO) Earns Buy Rating from Analysts at HSBC

Equities researchers at HSBC initiated coverage on shares of MINISO Group (NYSE:MNSO) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $29.30 price target on the stock. HSBC’s price objective suggests a potential upside of 42.41% from the stock’s previous close.

MINISO Group Price Performance

Shares of NYSE MNSO opened at $20.58 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $6.43 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.80 and a beta of 0.07. The stock’s 50-day simple moving average is $23.21 and its two-hundred day simple moving average is $19.92. MINISO Group has a twelve month low of $12.51 and a twelve month high of $27.71.

MINISO Group (NYSE:MNSO) last announced its quarterly earnings data on Friday, November 29th. The company reported $0.30 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 analysts anticipate that MINISO Group will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On MINISO Group

Several institutional investors have recently bought and sold shares of MNSO. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its holdings 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 valued at $219,835,000 after acquiring an additional 3,992,300 shares during the period. M&G PLC boosted its holdings in MINISO Group by 217.5% during the 3rd quarter. M&G PLC now owns 3,611,656 shares of the company’s stock valued at $65,010,000 after acquiring an additional 2,474,207 shares during the period. HCEP Management Ltd purchased a new stake in MINISO Group during the 4th quarter valued at about $40,613,000. LMR Partners LLP purchased a new stake in MINISO Group during the 3rd quarter valued at about $11,384,000. Finally, Candriam S.C.A. purchased a new stake in MINISO Group during the 4th quarter valued at about $9,986,000. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

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.