425,193 Shares in Michaels Companies Inc (MIK) Purchased by Schroder Investment Management Group

Schroder Investment Management Group bought a new position in shares of Michaels Companies Inc (NASDAQ:MIK) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 425,193 shares of the specialty retailer’s stock, valued at approximately $9,443,000. Schroder Investment Management Group owned 0.23% of Michaels Companies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MIK. Alliancebernstein L.P. raised its stake in Michaels Companies by 52.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after acquiring an additional 2,086,817 shares during the period. State Street Corp raised its position in shares of Michaels Companies by 15.5% during the second quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock valued at $108,763,000 after buying an additional 787,225 shares during the last quarter. Freestone Capital Holdings LLC raised its position in shares of Michaels Companies by 2,260.8% during the second quarter. Freestone Capital Holdings LLC now owns 639,903 shares of the specialty retailer’s stock valued at $11,851,000 after buying an additional 612,798 shares during the last quarter. BlackRock Inc. raised its position in shares of Michaels Companies by 7.1% during the second quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock valued at $162,099,000 after buying an additional 583,585 shares during the last quarter. Finally, Sapience Investments LLC raised its position in shares of Michaels Companies by 70.9% during the second quarter. Sapience Investments LLC now owns 1,171,775 shares of the specialty retailer’s stock valued at $21,701,000 after buying an additional 486,295 shares during the last quarter.

Michaels Companies Inc (NASDAQ:MIK) opened at $22.20 on Friday. Michaels Companies Inc has a fifty-two week low of $17.25 and a fifty-two week high of $24.24. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. The firm has a market cap of $4,030.00, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.96 and a beta of 0.92.

Michaels Companies (NASDAQ:MIK) last posted its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $0.40 earnings per share. Michaels Companies’s revenue for the quarter was up 1.1% compared to the same quarter last year. research analysts predict that Michaels Companies Inc will post 2.16 EPS for the current year.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James Financial reiterated a “hold” rating on shares of Michaels Companies in a research report on Saturday, December 2nd. BidaskClub cut shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 9th. ValuEngine upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies cut shares of Michaels Companies from a “neutral” rating to an “underweight” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $23.43.

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About Michaels Companies

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.

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

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