California Public Employees Retirement System Boosts Position in Michaels Companies Inc (MIK)
California Public Employees Retirement System lifted its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 36.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,090 shares of the specialty retailer’s stock after acquiring an additional 35,890 shares during the period. California Public Employees Retirement System’s holdings in Michaels Companies were worth $2,900,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its position in Michaels Companies by 15.5% in the second quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock worth $108,763,000 after buying an additional 787,225 shares during the period. BlackRock Inc. increased its position in Michaels Companies by 7.1% in the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after buying an additional 583,585 shares during the period. Sapience Investments LLC increased its position in Michaels Companies by 70.9% in the second quarter. Sapience Investments LLC now owns 1,171,775 shares of the specialty retailer’s stock worth $21,701,000 after buying an additional 486,295 shares during the period. Ingalls & Snyder LLC acquired a new stake in Michaels Companies in the third quarter worth $10,316,000. Finally, OxFORD Asset Management LLP increased its position in Michaels Companies by 218.3% in the second quarter. OxFORD Asset Management LLP now owns 663,345 shares of the specialty retailer’s stock worth $12,285,000 after buying an additional 454,915 shares during the period.
MIK has been the subject of several recent analyst reports. BidaskClub raised Michaels Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine cut Michaels Companies from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Zacks Investment Research raised Michaels Companies from a “sell” rating to a “hold” rating in a research note on Thursday, November 2nd. Deutsche Bank cut Michaels Companies from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research note on Tuesday, December 12th. Finally, Piper Jaffray Companies cut Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. One investment 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. The company presently has a consensus rating of “Hold” and a consensus price target of $23.63.
Michaels Companies Inc (NASDAQ MIK) opened at $25.03 on Monday. Michaels Companies Inc has a 52 week low of $17.25 and a 52 week high of $25.25. The firm has a market capitalization of $4,540.00, a PE ratio of 12.71, a P/E/G ratio of 0.96 and a beta of 0.92. The company has a current ratio of 1.39, a quick ratio of 0.25 and a debt-to-equity ratio of -1.56.
Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. equities analysts forecast that Michaels Companies Inc will post 2.16 EPS for the current fiscal 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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