Schwab Charles Investment Management Inc. boosted its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 484,656 shares of the specialty retailer’s stock after purchasing an additional 49,786 shares during the period. Schwab Charles Investment Management Inc. owned 0.27% of Michaels Companies worth $10,406,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Michaels Companies during the 2nd quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Michaels Companies by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 549 shares during the period. Pinebridge Investments L.P. acquired a new stake in shares of Michaels Companies during the 2nd quarter valued at $124,000. Pacer Advisors Inc. boosted its stake in shares of Michaels Companies by 5.0% during the 2nd quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after buying an additional 383 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Michaels Companies during the 3rd quarter valued at $229,000.
MIK has been the subject of a number of research reports. BidaskClub raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Michaels Companies from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Deutsche Bank lowered shares of Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Tuesday, December 12th. Finally, Piper Jaffray Companies lowered shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Michaels Companies presently has an average rating of “Hold” and a consensus price target of $23.63.
Shares of Michaels Companies Inc (NASDAQ MIK) opened at $25.03 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56. Michaels Companies Inc has a 52 week low of $17.25 and a 52 week high of $25.25. The stock has a market cap of $4,491.34, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.95 and a beta of 0.92.
Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. research analysts forecast that Michaels Companies Inc will post 2.16 earnings per share for the current year.
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Michaels Companies Company Profile
The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.
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