Hsbc Holdings PLC Sells 154,244 Shares of MINISO Group Holding Limited Unsponsored ADR $MNSO

Key Points

• Hsbc Holdings PLC significantly reduced its stake in MINISO Group, selling 154,244 shares and lowering its holdings by 85.1%, resulting in ownership of just 27,084 shares valued at $501,000.
• Several other institutional investors made notable moves in MINISO Group during the first quarter, with Brooklyn Investment Group increasing its position by 579.4% and Caitong International Asset Management boosting its stake by 884.3%.
• MINISO Group reported disappointing earnings, with an EPS of $0.22, missing the consensus estimate of $1.74, and also announced a dividend cut despite a current dividend payout ratio of 58.88%.

Hsbc Holdings PLC decreased its holdings in shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Free Report) by 85.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,084 shares of the company's stock after selling 154,244 shares during the period. Hsbc Holdings PLC's holdings in MINISO Group were worth $501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Infini Capital Management Ltd bought a new stake in MINISO Group during the first quarter valued at about $289,000. The Manufacturers Life Insurance Company lifted its stake in shares of MINISO Group by 54.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 215,206 shares of the company's stock valued at $5,141,000 after buying an additional 75,697 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in MINISO Group by 8.0% in the 1st quarter. Mackenzie Financial Corp now owns 192,620 shares of the company's stock worth $3,562,000 after buying an additional 14,278 shares during the period. Caption Management LLC purchased a new stake in MINISO Group in the 4th quarter worth $516,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in MINISO Group during the fourth quarter valued at about $1,085,000. 17.16% of the stock is owned by institutional investors.

MINISO Group Price Performance

NYSE MNSO traded up $0.14 during trading on Friday, hitting $24.51. 624,370 shares of the stock traded hands, compared to its average volume of 1,333,202. The company has a quick ratio of 1.50, a current ratio of 1.92 and a debt-to-equity ratio of 0.71. MINISO Group Holding Limited Unsponsored ADR has a 12-month low of $12.51 and a 12-month high of $27.71. The firm has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $19.15. The company has a market capitalization of $7.61 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.55 and a beta of 0.18.

MINISO Group (NYSE:MNSO - Get Free Report) last posted its earnings results on Thursday, August 21st. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $1.74 by ($1.52). MINISO Group had a net margin of 12.63% and a return on equity of 22.60%. The firm had revenue of $692.93 million for the quarter, compared to the consensus estimate of $4.85 billion. As a group, analysts predict that MINISO Group Holding Limited Unsponsored ADR will post 1.19 EPS for the current year.

MINISO Group Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.2896 per share. This represents a dividend yield of 236.0%. The ex-dividend date is Friday, September 5th. MINISO Group's dividend payout ratio is currently 58.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MNSO. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $20.00 price objective on shares of MINISO Group in a research note on Tuesday, May 27th. Dbs Bank upgraded MINISO Group to a "moderate buy" rating in a research note on Friday, August 22nd. Bank of America raised shares of MINISO Group from an "underperform" rating to a "neutral" rating in a report on Thursday, August 21st. Finally, Jefferies Financial Group raised shares of MINISO Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $18.50 to $26.20 in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, MINISO Group has a consensus rating of "Moderate Buy" and an average price target of $24.86.

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.