United Capital Financial Advisers LLC increased its stake in shares of Michaels Companies Inc (NASDAQ:MIK) by 21.2% during the first quarter, Holdings Channel reports. The fund owned 48,020 shares of the specialty retailer’s stock after purchasing an additional 8,387 shares during the period. United Capital Financial Advisers LLC’s holdings in Michaels Companies were worth $946,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MIK. Schwab Charles Investment Management Inc. increased its holdings in shares of Michaels Companies by 12.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 543,922 shares of the specialty retailer’s stock valued at $13,158,000 after acquiring an additional 59,266 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Michaels Companies in the 4th quarter valued at approximately $234,000. Teacher Retirement System of Texas grew its holdings in Michaels Companies by 269.3% in the 4th quarter. Teacher Retirement System of Texas now owns 37,442 shares of the specialty retailer’s stock valued at $906,000 after buying an additional 27,303 shares during the last quarter. California Public Employees Retirement System grew its holdings in Michaels Companies by 35.2% in the 4th quarter. California Public Employees Retirement System now owns 182,614 shares of the specialty retailer’s stock valued at $4,417,000 after buying an additional 47,524 shares during the last quarter. Finally, New Mexico Educational Retirement Board acquired a new stake in Michaels Companies in the 4th quarter valued at approximately $660,000.

MIK has been the topic of a number of research analyst reports. BidaskClub lowered Michaels Companies from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Loop Capital initiated coverage on Michaels Companies in a report on Thursday, March 1st. They issued a “hold” rating and a $25.00 target price on the stock. ValuEngine lowered Michaels Companies from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Piper Jaffray Companies reaffirmed a “sell” rating and issued a $18.00 target price on shares of Michaels Companies in a report on Tuesday, March 6th. Finally, Deutsche Bank raised their target price on Michaels Companies from $24.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Michaels Companies currently has a consensus rating of “Hold” and an average price target of $23.80.

Shares of NASDAQ:MIK opened at $18.80 on Tuesday. Michaels Companies Inc has a 1-year low of $17.25 and a 1-year high of $27.87. The company has a market cap of $3.59 billion, a PE ratio of 8.93, a PEG ratio of 0.99 and a beta of 1.23. The company has a current ratio of 1.79, a quick ratio of 0.60 and a debt-to-equity ratio of -1.82.

Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings data on Thursday, June 14th. The specialty retailer reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Michaels Companies had a negative return on equity of 24.87% and a net margin of 6.44%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm earned $0.38 EPS. Michaels Companies’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts expect that Michaels Companies Inc will post 2.29 EPS for the current year.

Michaels Companies Profile

The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.

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Institutional Ownership by Quarter for Michaels Companies (NASDAQ:MIK)

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