Goldman Sachs Group lowers MINISO Group (NYSE: MNSO) price target to $11.90

MINISO Group (NYSE: MNSO – Get an Assessment) saw its target price reduced by Goldman Sachs Group research analysts from $12.20 to $11.90 in a research report released on Wednesday, reports The Fly. Goldman Sachs Group’s price target would point to a potential upside of 70.24% from the company’s previous close.

Separately, Jefferies Financial Group assumed coverage for MINISO Group shares in a Monday, June 13 research note. They issued a “buy” rating for the company.

Shares of MNSO traded at $0.13 during midday trading on Wednesday, hitting $6.99. 21,068 shares of the company were traded, against an average volume of 1,471,752. The company has a market capitalization of $2.12 billion, a PE ratio of 25.82 and a beta of -0.82. The MINISO group has a 52-week low of $5.07 and a 52-week high of $19.33. The company has a 50-day simple moving average of $6.49 and a 200-day simple moving average of $8.06. The company has a debt ratio of 0.06, a current ratio of 2.11 and a quick ratio of 1.79.

MINISO Group (NYSE:MNSO – Get Rating) last released its quarterly results on Thursday, May 26. The company reported earnings per share of $0.06 for the quarter. The company had revenue of $369.29 million in the quarter. The MINISO group achieved a net margin of 5.35% and a return on equity of 9.94%. In the same period of the previous year, the company had earned earnings per share of $0.08. On average, analysts expect MINISO Group to post 0.3 earnings per share for the current year.

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Several large investors have recently increased or reduced their stake in the stock. Schroder Investment Management Group increased its position in MINISO Group by 22.0% during the fourth quarter. Schroder Investment Management Group now owns 10,763,324 shares of the company worth $27,823,000 after purchasing an additional 1,938,072 shares during the period. Allianz Asset Management GmbH purchased a new position in MINISO Group during the fourth quarter at a value of $8,397,000. The Ontario Teachers’ Pension Board increased its position in the MINISO group by 34.1% in the first quarter. The Ontario Teachers’ Pension Board now owns 2,950,000 shares of the company worth $23,010,000 after purchasing an additional 750,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in MINISO Group by 9.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,928,000 shares of the company worth $15,038,000 after purchasing an additional 165,800 shares during the period. Finally, Point72 Asset Management LP strengthened its position in the MINISO group by 243.6% during the fourth quarter. Point72 Asset Management LP now owns 181,100 shares of the company worth $1,873,000 after purchasing an additional 128,400 shares during the period. 16.76% of the shares are held by institutional investors and hedge funds.

MINISO Group Company Profile (Get a rating)

MINISO Group Holding Limited, an investment holding company, is engaged in the retail and wholesale of lifestyle products in China, Asia, the Americas and Europe. The Company offers products in various categories, including home décor products, small electronics, textiles, accessories, beauty tools, toys, cosmetics, personal care products, snacks, fragrances and perfumes, as well as stationery and gifts under the MINISO and WonderLife brands; and blind boxes, toy bricks, figures, models, collectible dolls, Ichiban Kuji, sculptures and other popular toys under the TOP TOY brand.

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