HSBC Initiates Coverage on MINISO Group (NYSE:MNSO)

HSBC assumed coverage on shares of MINISO Group (NYSE:MNSO) in a research report report published on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $29.30 target price on the stock.

MINISO Group Stock Up 0.2 %

Shares of MNSO stock opened at $20.72 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. MINISO Group has a twelve month low of $12.51 and a twelve month high of $27.71. The stock has a 50 day moving average of $23.27 and a 200 day moving average of $19.92. The stock has a market cap of $6.48 billion, a P/E ratio of 18.67, a P/E/G ratio of 0.80 and a beta of 0.07.

MINISO Group (NYSE:MNSO) last posted its earnings results on Friday, November 29th. The company reported $0.30 earnings per share for the quarter. MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. As a group, sell-side analysts expect that MINISO Group will post 1.19 EPS for the current year.

Institutional Investors Weigh In On MINISO Group

Several hedge funds have recently modified their holdings of MNSO. SBI Securities Co. Ltd. purchased a new position in shares of MINISO Group in the 4th quarter valued at about $31,000. Barclays PLC purchased a new stake in shares of MINISO Group in the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC increased its position in shares of MINISO Group by 83.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,618 shares of the company’s stock valued at $39,000 after buying an additional 734 shares in the last quarter. FMR LLC raised its stake in shares of MINISO Group by 230.2% during the 3rd quarter. FMR LLC now owns 4,137 shares of the company’s stock worth $73,000 after buying an additional 2,884 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in shares of MINISO Group during the 3rd quarter valued at approximately $78,000. 17.16% of the stock is 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.