First Trust Advisors LP reduced its position in shares of Michaels Companies Inc (NASDAQ:MIK) by 58.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,366 shares of the specialty retailer’s stock after selling 171,409 shares during the quarter. First Trust Advisors LP owned approximately 0.07% of Michaels Companies worth $1,986,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of MIK. Principal Financial Group Inc. raised its holdings in Michaels Companies by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 488,441 shares of the specialty retailer’s stock valued at $9,627,000 after buying an additional 13,179 shares during the last quarter. Allianz Asset Management GmbH bought a new stake in Michaels Companies during the 1st quarter valued at $290,000. BNP Paribas Arbitrage SA raised its holdings in Michaels Companies by 26.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,700 shares of the specialty retailer’s stock valued at $416,000 after buying an additional 4,563 shares during the last quarter. Dupont Capital Management Corp raised its holdings in Michaels Companies by 12.6% during the 2nd quarter. Dupont Capital Management Corp now owns 37,704 shares of the specialty retailer’s stock valued at $723,000 after buying an additional 4,209 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in Michaels Companies by 8.5% during the 2nd quarter. TD Asset Management Inc. now owns 252,300 shares of the specialty retailer’s stock valued at $4,837,000 after buying an additional 19,800 shares during the last quarter.
Shares of NASDAQ MIK opened at $16.97 on Monday. Michaels Companies Inc has a 12 month low of $14.82 and a 12 month high of $27.87. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 0.95 and a beta of 1.03.
Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, August 30th. The specialty retailer reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.02. Michaels Companies had a net margin of 6.31% and a negative return on equity of 24.56%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts predict that Michaels Companies Inc will post 2.35 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on the stock. ValuEngine lowered shares of Michaels Companies from a “sell” rating to a “strong sell” rating in a report on Sunday, August 26th. BidaskClub upgraded shares of Michaels Companies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Wells Fargo & Co reiterated a “hold” rating and set a $19.00 price target (down from $20.00) on shares of Michaels Companies in a report on Thursday, August 30th. Deutsche Bank lowered their price target on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 31st. Finally, Morgan Stanley lowered their price target on shares of Michaels Companies from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.22.
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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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