Nationwide Fund Advisors Increases Stake in Michaels Companies Inc (MIK)

Nationwide Fund Advisors increased its holdings in Michaels Companies Inc (NASDAQ:MIK) by 82.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 391,814 shares of the specialty retailer’s stock after purchasing an additional 177,433 shares during the period. Nationwide Fund Advisors owned approximately 0.22% of Michaels Companies worth $8,412,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mckinley Capital Management LLC Delaware bought a new stake in Michaels Companies during the 2nd quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Michaels Companies by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after buying an additional 549 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Michaels Companies during the 2nd quarter valued at $124,000. Pacer Advisors Inc. raised its holdings in Michaels Companies by 5.0% during the 2nd quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after buying an additional 383 shares during the last quarter. Finally, Suntrust Banks Inc. raised its holdings in Michaels Companies by 3.0% during the 2nd quarter. Suntrust Banks Inc. now owns 12,680 shares of the specialty retailer’s stock valued at $234,000 after buying an additional 368 shares during the last quarter.

Michaels Companies Inc (NASDAQ MIK) opened at $22.20 on Friday. The company has a debt-to-equity ratio of -1.56, a current ratio of 1.39 and a quick ratio of 0.25. Michaels Companies Inc has a 1-year low of $17.25 and a 1-year high of $24.24. The company has a market cap of $4,030.00, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92.

Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the business earned $0.40 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. sell-side analysts predict that Michaels Companies Inc will post 2.16 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the stock. Bank of America reiterated a “buy” rating and set a $29.00 price target on shares of Michaels Companies in a report on Tuesday, September 5th. ValuEngine lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Raymond James Financial reiterated a “hold” rating on shares of Michaels Companies in a report on Saturday, December 2nd. Finally, Piper Jaffray Companies set a $18.00 price target on shares of Michaels Companies and gave the company a “hold” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Michaels Companies currently has a consensus rating of “Hold” and an average target price of $23.43.

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Michaels Companies Company Profile

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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