The Manufacturers Life Insurance Company Has $2.45 Million Position in MINISO Group Holding Limited (NYSE:MNSO)

The Manufacturers Life Insurance Company cut its stake in shares of MINISO Group Holding Limited (NYSE:MNSO) by 71.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,509 shares of the company’s stock after selling 346,321 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MINISO Group were worth $2,447,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in MINISO Group by 553.7% in the 3rd quarter. Citigroup Inc. now owns 390,286 shares of the company’s stock worth $6,846,000 after purchasing an additional 330,579 shares in the last quarter. LMR Partners LLP bought a new stake in shares of MINISO Group during the third quarter worth about $11,384,000. Venturi Wealth Management LLC acquired a new position in shares of MINISO Group in the third quarter valued at approximately $78,000. XY Capital Ltd bought a new position in MINISO Group in the 3rd quarter valued at approximately $5,134,000. Finally, M&G PLC boosted its position in MINISO Group by 217.5% during the 3rd quarter. M&G PLC now owns 3,611,656 shares of the company’s stock worth $65,010,000 after buying an additional 2,474,207 shares during the period. 17.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MNSO has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating on shares of MINISO Group in a report on Monday, September 23rd. Citigroup initiated coverage on MINISO Group in a report on Friday, October 4th. They set a “buy” rating and a $26.80 target price on the stock. Dbs Bank raised MINISO Group to a “strong-buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. restated a “neutral” rating and set a $15.00 price objective (down from $27.00) on shares of MINISO Group in a research report on Tuesday, September 24th. Finally, Bank of America cut MINISO Group from a “buy” rating to an “underperform” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MINISO Group presently has a consensus rating of “Hold” and an average target price of $20.90.

MINISO Group Stock Performance

Shares of MNSO opened at $24.18 on Monday. The firm’s fifty day simple moving average is $18.83 and its two-hundred day simple moving average is $18.26. MINISO Group Holding Limited has a 12 month low of $12.51 and a 12 month high of $25.50. The company has a current ratio of 2.14, a quick ratio of 1.93 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $7.61 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.03 and a beta of 0.14.

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.