Michaels Companies Inc (MIK) Stake Lifted by American International Group Inc.

American International Group Inc. lifted its holdings in shares of Michaels Companies Inc (NASDAQ:MIK) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,858 shares of the specialty retailer’s stock after purchasing an additional 9,114 shares during the quarter. American International Group Inc. owned 0.12% of Michaels Companies worth $4,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Suntrust Banks Inc. boosted its stake in Michaels Companies by 3.0% in the second quarter. Suntrust Banks Inc. now owns 12,680 shares of the specialty retailer’s stock worth $234,000 after buying an additional 368 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Michaels Companies by 5.0% in the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock worth $149,000 after buying an additional 383 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Michaels Companies by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock worth $103,000 after buying an additional 549 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Michaels Companies by 3.0% in the second quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the specialty retailer’s stock worth $511,000 after buying an additional 800 shares in the last quarter. Finally, People s United Financial Inc. boosted its stake in Michaels Companies by 5.5% in the second quarter. People s United Financial Inc. now owns 17,323 shares of the specialty retailer’s stock worth $321,000 after buying an additional 904 shares in the last quarter.

Michaels Companies Inc (NASDAQ:MIK) opened at $21.15 on Tuesday. The company has a debt-to-equity ratio of -1.56, a quick ratio of 0.25 and a current ratio of 1.39. The company has a market capitalization of $3,976.59, a P/E ratio of 11.14, a P/E/G ratio of 0.96 and a beta of 0.92. Michaels Companies Inc has a twelve month low of $17.25 and a twelve month high of $24.66.

Michaels Companies (NASDAQ:MIK) last announced its earnings results on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a negative return on equity of 22.16% and a net margin of 7.33%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. research analysts expect that Michaels Companies Inc will post 2.2 EPS for the current year.

MIK has been the subject of a number of analyst reports. Bank of America reissued a “buy” rating and set a $29.00 price objective on shares of Michaels Companies in a research note on Tuesday, September 5th. BidaskClub raised Michaels Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine raised Michaels Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research raised Michaels Companies from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, November 29th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $18.00 price objective on shares of Michaels Companies in a research note on Friday, September 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.00.

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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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