MINISO Group (NYSE:MNSO) Given New $16.00 Price Target at JPMorgan Chase & Co.

MINISO Group (NYSE:MNSO) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $26.00 to $16.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 21.51% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MINISO Group in a research note on Friday, March 27th. Zacks Research raised shares of MINISO Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.73.

MINISO Group Trading Up 4.8%

NYSE MNSO traded up $0.60 during mid-day trading on Friday, reaching $13.17. 284,037 shares of the stock were exchanged, compared to its average volume of 516,535. MINISO Group has a one year low of $12.30 and a one year high of $26.74. The stock has a 50 day simple moving average of $15.18 and a 200-day simple moving average of $17.82. The stock has a market cap of $4.08 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.18 and a beta of 0.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.66 and a quick ratio of 1.23.

MINISO Group (NYSE:MNSO) last announced its earnings results on Friday, May 15th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.18). MINISO Group had a return on equity of 19.28% and a net margin of 9.03%.The firm had revenue of $825.04 million for the quarter, compared to the consensus estimate of $805.60 million. On average, analysts anticipate that MINISO Group will post 1.47 EPS for the current year.

Institutional Investors Weigh In On MINISO Group

Several hedge funds and other institutional investors have recently bought and sold shares of MNSO. WFM ASIA BVI Ltd acquired a new position in shares of MINISO Group during the third quarter valued at about $35,624,000. Serenity Capital Management PTE. LTD. grew its holdings in shares of MINISO Group by 74.9% during the fourth quarter. Serenity Capital Management PTE. LTD. now owns 2,024,455 shares of the company’s stock valued at $37,959,000 after buying an additional 866,793 shares during the last quarter. Millennium Management LLC grew its holdings in shares of MINISO Group by 167.5% during the third quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock valued at $21,867,000 after buying an additional 608,544 shares during the last quarter. Tiger Pacific Capital LP acquired a new position in shares of MINISO Group during the third quarter valued at about $6,300,000. Finally, Marshall Wace LLP grew its holdings in shares of MINISO Group by 15.8% during the fourth quarter. Marshall Wace LLP now owns 1,981,202 shares of the company’s stock valued at $37,148,000 after buying an additional 270,765 shares during the last quarter. 17.16% of the stock is owned by institutional investors.

About MINISO Group

MINISO Group (NYSE: MNSO) is a global retailer specializing in lifestyle and consumer goods. Since its founding in 2013, the company has focused on offering affordable, design-driven products across a broad range of categories. MINISO’s stores feature a clean, minimalist layout and emphasize a “fast fashion” inventory model designed to turn over goods quickly and respond to emerging trends.

The company’s product mix spans household items, kitchenware, cosmetics and personal care, stationery, toys, digital accessories, apparel and seasonal items.