MINISO Group (NYSE:MNSO) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of MINISO Group (NYSE:MNSO) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.

Several other research firms have also commented on MNSO. Weiss Ratings reiterated a “hold (c)” rating on shares of MINISO Group in a research report on Friday, March 27th. Wall Street Zen upgraded MINISO Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, JPMorgan Chase & Co. dropped their price target on MINISO Group from $26.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MINISO Group currently has an average rating of “Hold” and a consensus target price of $21.73.

MINISO Group Trading Down 4.2%

Shares of MINISO Group stock opened at $12.33 on Monday. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.59 and a beta of 0.08. The business has a 50-day moving average price of $14.36 and a 200-day moving average price of $17.13. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.76. MINISO Group has a twelve month low of $12.29 and a twelve month high of $26.74.

MINISO Group (NYSE:MNSO) last issued its quarterly earnings data 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). The firm had revenue of $825.04 million for the quarter, compared to analysts’ expectations of $805.60 million. MINISO Group had a net margin of 9.03% and a return on equity of 18.98%. Equities research analysts anticipate that MINISO Group will post 1.12 EPS for the current fiscal year.

MINISO Group Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, May 4th. Investors of record on Monday, April 20th were given a $0.3764 dividend. The ex-dividend date was Monday, April 20th. This represents a yield of 479.0%. MINISO Group’s dividend payout ratio (DPR) is currently 77.66%.

Insider Activity

In other news, VP Yunyun (Alice) Yang acquired 1,950,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $3.28 per share, with a total value of $6,396,000.00. Following the completion of the purchase, the vice president directly owned 315,590,482 shares in the company, valued at approximately $1,035,136,780.96. This trade represents a 0.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Guofu Ye acquired 1,950,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $3.28 per share, with a total value of $6,396,000.00. Following the purchase, the chief executive officer owned 315,590,482 shares of the company’s stock, valued at $1,035,136,780.96. The trade was a 0.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 4,200,000 shares of company stock valued at $13,797,000. 73.50% of the stock is currently owned by company insiders.

Institutional Trading of MINISO Group

Several institutional investors have recently added to or reduced their stakes in MNSO. WFM ASIA BVI Ltd bought a new stake in MINISO Group in the third quarter worth about $35,624,000. Serenity Capital Management PTE. LTD. lifted its stake in MINISO Group by 74.9% in the fourth quarter. Serenity Capital Management PTE. LTD. now owns 2,024,455 shares of the company’s stock worth $37,959,000 after purchasing an additional 866,793 shares during the last quarter. Millennium Management LLC lifted its stake in MINISO Group by 167.5% in the third quarter. Millennium Management LLC now owns 971,884 shares of the company’s stock worth $21,867,000 after purchasing an additional 608,544 shares during the last quarter. Tiger Pacific Capital LP bought a new stake in MINISO Group in the third quarter worth about $6,300,000. Finally, Marshall Wace LLP lifted its stake in MINISO Group by 15.8% in the fourth quarter. Marshall Wace LLP now owns 1,981,202 shares of the company’s stock worth $37,148,000 after purchasing an additional 270,765 shares during the last quarter. Institutional investors own 17.16% of the company’s stock.

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.