Bank of America Corp DE Trims Stake in MINISO Group Holding Limited (NYSE:MNSO)

Bank of America Corp DE reduced its position in MINISO Group Holding Limited (NYSE:MNSO - Free Report) by 89.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,447 shares of the company's stock after selling 2,456,505 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of MINISO Group worth $6,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of MINISO Group in the fourth quarter worth approximately $3,780,000. Schonfeld Strategic Advisors LLC bought a new position in shares of MINISO Group in the fourth quarter worth approximately $1,085,000. Northern Trust Corp boosted its position in shares of MINISO Group by 3.3% in the fourth quarter. Northern Trust Corp now owns 24,232 shares of the company's stock worth $579,000 after purchasing an additional 784 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of MINISO Group by 54.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 215,206 shares of the company's stock worth $5,141,000 after purchasing an additional 75,697 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of MINISO Group by 78.0% in the fourth quarter. Hsbc Holdings PLC now owns 181,328 shares of the company's stock worth $4,342,000 after purchasing an additional 79,455 shares during the period. 17.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of MINISO Group from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $15.00 to $22.00 in a research report on Tuesday, March 25th. HSBC assumed coverage on shares of MINISO Group in a research report on Wednesday, February 26th. They set a "buy" rating and a $29.30 target price for the company. Hsbc Global Res upgraded shares of MINISO Group to a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $20.00 target price on shares of MINISO Group in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.53.

MINISO Group Price Performance

MINISO Group stock traded down $0.09 during mid-day trading on Wednesday, reaching $17.32. 1,083,932 shares of the company's stock traded hands, compared to its average volume of 1,725,687. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.80 and a beta of 0.18. The stock has a 50 day moving average of $17.95 and a two-hundred day moving average of $20.61. The company has a quick ratio of 1.66, a current ratio of 2.14 and a debt-to-equity ratio of 0.17. MINISO Group Holding Limited has a 12-month low of $12.51 and a 12-month high of $27.71.

MINISO Group (NYSE:MNSO - Get Free Report) last announced its earnings results on Friday, May 23rd. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $2.04 by ($1.85). MINISO Group had a net margin of 15.18% and a return on equity of 26.07%. The firm had revenue of $609.87 million during the quarter, compared to analysts' expectations of $4.35 billion. Equities analysts forecast that MINISO Group Holding Limited will post 1.19 earnings per share for the current year.

MINISO Group Announces Dividend

The company also recently announced a -- dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 8th were paid a $0.3268 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, April 8th. MINISO Group's dividend payout ratio is currently 56.76%.

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.