The Michaels Companies, Inc. (NASDAQ:MIK) Shares Bought by Jennison Associates LLC


Share on StockTwits

Jennison Associates LLC raised its stake in The Michaels Companies, Inc. (NASDAQ:MIK) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,736 shares of the specialty retailer’s stock after acquiring an additional 17,563 shares during the quarter. Jennison Associates LLC owned approximately 0.06% of The Michaels Companies worth $1,220,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Point72 Hong Kong Ltd lifted its holdings in The Michaels Companies by 24.5% in the third quarter. Point72 Hong Kong Ltd now owns 7,061 shares of the specialty retailer’s stock valued at $68,000 after acquiring an additional 1,388 shares during the period. Freestone Capital Holdings LLC acquired a new position in shares of The Michaels Companies during the 3rd quarter worth approximately $72,000. Meeder Asset Management Inc. raised its stake in shares of The Michaels Companies by 506.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,879 shares of the specialty retailer’s stock worth $76,000 after buying an additional 6,579 shares during the period. Solstein Capital LLC acquired a new position in shares of The Michaels Companies during the 3rd quarter worth approximately $79,000. Finally, International Assets Investment Management LLC acquired a new position in shares of The Michaels Companies during the 4th quarter worth approximately $111,000.

Shares of MIK opened at $14.88 on Tuesday. The Michaels Companies, Inc. has a one year low of $1.00 and a one year high of $17.90. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.92 and a beta of 3.18. The stock has a 50 day moving average price of $15.41 and a 200 day moving average price of $11.41.

The Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings results on Wednesday, December 2nd. The specialty retailer reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.27. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.39 billion. The Michaels Companies had a negative return on equity of 20.17% and a net margin of 4.36%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. Sell-side analysts predict that The Michaels Companies, Inc. will post 2.22 EPS for the current year.

Several research analysts have recently weighed in on MIK shares. Telsey Advisory Group reaffirmed a “market perform” rating on shares of The Michaels Companies in a research note on Tuesday, December 1st. JPMorgan Chase & Co. downgraded The Michaels Companies from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $14.00 in a research note on Monday, December 14th. Morgan Stanley downgraded The Michaels Companies from an “equal weight” rating to an “underweight” rating and set a $13.00 target price for the company. in a research note on Wednesday, January 20th. Finally, Zacks Investment Research downgraded The Michaels Companies from a “strong-buy” rating to a “sell” rating and set a $15.00 target price for the company. in a research note on Wednesday, February 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The Michaels Companies has an average rating of “Hold” and an average target price of $14.43.

The Michaels Companies Profile

The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for hobbyist and do-it-yourself home decorators in the United States and Canada. It operates Michaels stores that offer approximately 45,000 basic and seasonal stock-keeping units (SKUs) in arts, crafts, framing, floral, and home décor and seasonal merchandise.

Read More: How dollar cost averaging works

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

Receive News & Ratings for The Michaels Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Michaels Companies and related companies with MarketBeat.com's FREE daily email newsletter.