JPMorgan Chase & Co. Begins Coverage on MINISO Group (NYSE:MNSO)

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of MINISO Group (NYSE:MNSO) in a report 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 objective indicates a potential upside of 29.65% from the stock’s previous close.

MINISO Group Price Performance

Shares of NYSE MNSO opened at $23.14 on Tuesday. The company has a current ratio of 2.34, a quick ratio of 1.91 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $20.11 and a two-hundred day simple moving average of $21.29. MINISO Group has a 1-year low of $14.46 and a 1-year high of $29.92. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 0.77 and a beta of 0.27.

MINISO Group (NYSE:MNSO) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.29 earnings per share for the quarter. MINISO Group had a return on equity of 25.43% and a net margin of 16.28%. The company had revenue of $541.04 million during the quarter. Analysts anticipate that MINISO Group will post 1.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MNSO. PNC Financial Services Group Inc. grew its holdings in MINISO Group by 95.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,008 shares of the company’s stock valued at $26,000 after buying an additional 492 shares in the last quarter. Avalon Trust Co purchased a new position in MINISO Group during the fourth quarter valued at approximately $26,000. Patriot Financial Group Insurance Agency LLC bought a new stake in MINISO Group during the 4th quarter worth approximately $206,000. Handelsinvest Investeringsforvaltning purchased a new stake in MINISO Group in the 4th quarter worth approximately $231,000. Finally, Jump Financial LLC bought a new position in MINISO Group in the 4th quarter valued at $231,000. 17.16% of the stock is owned by institutional investors.

MINISO Group Company Profile

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.