Legal & General Group Plc Lowers Stock Position in MINISO Group Holding Limited Unsponsored ADR $MNSO

Key Points

• Legal & General Group Plc cut its MINISO Group position by 22% in the fourth quarter, selling 77,516 shares and ending with 274,955 shares worth about $5.16 million.
• Analysts remain mixed on MINISO: JPMorgan lowered its price target to $16, while Wall Street Zen upgraded the stock to buy. Overall, the shares have a “Moderate Buy” consensus target of $21.73.
• MINISO’s latest results were mixed, with revenue of $825.04 million topping expectations but earnings of $0.06 per share falling well short of the $0.24 estimate. The stock was trading near $12.95, close to its 52-week low.

Legal & General Group Plc cut its holdings in shares of MINISO Group Holding Limited Unsponsored ADR (NYSE:MNSO - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 274,955 shares of the company's stock after selling 77,516 shares during the period. Legal & General Group Plc owned 0.09% of MINISO Group worth $5,157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Long Corridor Asset Management Ltd purchased a new position in shares of MINISO Group during the third quarter worth approximately $2,368,000. Fox Run Management L.L.C. acquired a new stake in shares of MINISO Group during the third quarter worth $1,275,000. WFM ASIA BVI Ltd acquired a new stake in shares of MINISO Group during the third quarter worth $35,624,000. Persistent Asset Partners Ltd acquired a new stake in shares of MINISO Group during the third quarter worth $948,000. Finally, Keystone Investors PTE Ltd. lifted its holdings in shares of MINISO Group by 32.2% during the third quarter. Keystone Investors PTE Ltd. now owns 192,100 shares of the company's stock worth $4,322,000 after purchasing an additional 46,800 shares during the period. 17.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on MINISO Group from $26.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, May 29th. Wall Street Zen raised MINISO Group from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of MINISO Group in a report on Friday, March 27th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $21.73.

MINISO Group Trading Down 0.0%

NYSE:MNSO opened at $12.95 on Monday. The company has a market capitalization of $4.01 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.22 and a beta of 0.08. 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 Holding Limited Unsponsored ADR has a 52-week low of $12.30 and a 52-week high of $26.74. The stock has a fifty day simple moving average of $14.78 and a 200-day simple moving average of $17.47.

MINISO Group (NYSE:MNSO - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.18). The company had revenue of $825.04 million for the quarter, compared to analysts' expectations of $805.60 million. MINISO Group had a return on equity of 18.98% and a net margin of 9.03%. On average, equities research analysts expect that MINISO Group Holding Limited Unsponsored ADR will post 1.47 earnings per share for the current fiscal year.

MINISO Group Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, May 4th. Shareholders of record on Monday, April 20th were issued a $0.3764 dividend. The ex-dividend date was Monday, April 20th. This represents a yield of 479.0%. MINISO Group's payout ratio is 77.66%.

Insider Activity

In other MINISO Group news, CEO Guofu Ye purchased 150,000 shares of the stock in a transaction on Monday, June 1st. The stock was bought at an average price of $3.35 per share, for a total transaction of $502,500.00. Following the acquisition, the chief executive officer directly owned 315,740,482 shares of the company's stock, valued at $1,057,730,614.70. This represents a 0.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Yunyun (Alice) Yang purchased 150,000 shares of the stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $3.35 per share, with a total value of $502,500.00. Following the acquisition, the vice president directly owned 315,740,482 shares in the company, valued at $1,057,730,614.70. This trade represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 4,200,000 shares of company stock valued at $13,797,000 in the last 90 days. 73.50% of the stock is owned by company insiders.

MINISO Group Company Profile

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.

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