MINISO Group (NYSE:MNSO) Coverage Initiated at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. began coverage on shares of MINISO Group (NYSE:MNSO) in a research note issued on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $30.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 29.65% from the company’s current price.

MINISO Group Stock Performance

NYSE:MNSO opened at $23.14 on Tuesday. The stock has a 50-day moving average price of $20.11 and a 200 day moving average price of $21.29. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.09. MINISO Group has a 12-month low of $14.46 and a 12-month high of $29.92. The stock has a market capitalization of $7.31 billion, a P/E ratio of 22.69, a P/E/G ratio of 0.77 and a beta of 0.27.

MINISO Group (NYSE:MNSO) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.29 earnings per share (EPS) for the quarter. MINISO Group had a net margin of 16.28% and a return on equity of 25.43%. The business had revenue of $541.04 million during the quarter. Equities research analysts forecast that MINISO Group will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On MINISO Group

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of MINISO Group during the 4th quarter worth approximately $31,510,000. KEYWISE CAPITAL MANAGEMENT HK Ltd raised its stake in MINISO Group by 45.1% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 3,224,200 shares of the company’s stock valued at $83,507,000 after purchasing an additional 1,002,600 shares in the last quarter. Axiom Investors LLC DE lifted its position in MINISO Group by 111.7% during the fourth quarter. Axiom Investors LLC DE now owns 1,646,199 shares of the company’s stock valued at $33,582,000 after purchasing an additional 868,599 shares during the last quarter. Carmignac Gestion grew its stake in shares of MINISO Group by 95,834.7% in the 4th quarter. Carmignac Gestion now owns 735,819 shares of the company’s stock worth $15,010,000 after buying an additional 735,052 shares in the last quarter. Finally, Matthews International Capital Management LLC purchased a new position in shares of MINISO Group in the 3rd quarter worth $14,503,000. 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.