The Michaels Companies, Inc. (MIK) Holdings Lifted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in The Michaels Companies, Inc. (NASDAQ:MIK) by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 494,692 shares of the specialty retailer’s stock after acquiring an additional 65,599 shares during the quarter. New York State Common Retirement Fund owned approximately 0.26% of The Michaels Companies worth $9,162,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Thrivent Financial For Lutherans increased its stake in The Michaels Companies by 5.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 21,120 shares of the specialty retailer’s stock valued at $391,000 after buying an additional 1,080 shares during the period. Laurion Capital Management LP acquired a new position in The Michaels Companies in the 2nd quarter valued at $899,000. BlueMountain Capital Management LLC acquired a new position in The Michaels Companies in the 2nd quarter valued at $1,217,000. Amalgamated Bank increased its stake in The Michaels Companies by 65.4% in the 2nd quarter. Amalgamated Bank now owns 24,191 shares of the specialty retailer’s stock valued at $448,000 after buying an additional 9,568 shares during the period. Finally, BlackRock Inc. increased its stake in The Michaels Companies by 7.1% in the 2nd 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 period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. BidaskClub lowered shares of The Michaels Companies from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Piper Jaffray Companies restated a “hold” rating and set a $18.00 target price on shares of The Michaels Companies in a research report on Friday, September 29th. Bank of America Corporation restated a “buy” rating and set a $29.00 target price on shares of The Michaels Companies in a research report on Tuesday, September 5th. ValuEngine lowered shares of The Michaels Companies from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research upgraded shares of The Michaels Companies from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $24.29.

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The Michaels Companies, Inc. (NASDAQ:MIK) opened at 20.23 on Wednesday. The firm has a market cap of $3.66 billion, a P/E ratio of 10.55 and a beta of 0.91. The Michaels Companies, Inc. has a 52 week low of $17.25 and a 52 week high of $25.57. The company has a 50-day moving average of $21.70 and a 200 day moving average of $20.66.

The Michaels Companies (NASDAQ:MIK) last released its quarterly earnings results on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted $0.17 EPS. The Michaels Companies’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict that The Michaels Companies, Inc. will post $2.14 earnings per share for the current year.

About The 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 The Michaels Companies (NASDAQ:MIK)

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