MINISO Group (NYSE:MNSO) Shares Gap Down - Here's Why

MINISO Group Holding Limited (NYSE:MNSO - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $16.58, but opened at $15.63. MINISO Group shares last traded at $15.52, with a volume of 351,459 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MNSO shares. JPMorgan Chase & Co. raised shares of MINISO Group from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $15.00 to $22.00 in a research report on Tuesday, March 25th. HSBC began coverage on shares of MINISO Group in a report on Wednesday, February 26th. They set a "buy" rating and a $29.30 target price on the stock. Finally, Hsbc Global Res upgraded shares of MINISO Group to a "strong-buy" rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.03.

MINISO Group Price Performance

The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.80 and a beta of 0.18. The stock's fifty day moving average price is $19.13 and its two-hundred day moving average price is $20.57. The company has a current ratio of 2.14, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

MINISO Group (NYSE:MNSO - Get Free Report) last released its quarterly earnings data on Friday, March 21st. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.61 by ($2.25). MINISO Group had a return on equity of 26.07% and a net margin of 15.18%. The business had revenue of $646.49 million for the quarter, compared to analyst estimates of $4.82 billion. Equities research analysts expect that MINISO Group Holding Limited will post 1.19 EPS for the current year.

MINISO Group Dividend Announcement

The business also recently declared a -- dividend, which will be paid on Wednesday, April 23rd. Investors of record on Tuesday, April 8th will be given a $0.3268 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a yield of 1.4%. MINISO Group's dividend payout ratio (DPR) is presently 53.39%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MNSO. FMR LLC increased its holdings in shares of MINISO Group by 230.2% in the 3rd quarter. FMR LLC now owns 4,137 shares of the company's stock valued at $73,000 after acquiring an additional 2,884 shares during the period. Geode Capital Management LLC raised its holdings in shares of MINISO Group by 1.6% in the third quarter. Geode Capital Management LLC now owns 66,540 shares of the company's stock valued at $1,167,000 after buying an additional 1,027 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of MINISO Group by 14.9% during the fourth quarter. Nordea Investment Management AB now owns 333,729 shares of the company's stock worth $8,020,000 after buying an additional 43,151 shares during the period. SG Americas Securities LLC purchased a new position in shares of MINISO Group during the fourth quarter worth about $163,000. Finally, Blue Trust Inc. raised its stake in MINISO Group by 66.5% during the 4th quarter. Blue Trust Inc. now owns 8,674 shares of the company's stock valued at $207,000 after acquiring an additional 3,464 shares during the last quarter. Hedge funds and other institutional investors own 17.16% of the company's stock.

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.