Ameriprise Financial Inc. Raises Holdings in Michaels Companies Inc (MIK)

Ameriprise Financial Inc. boosted its holdings in Michaels Companies Inc (NASDAQ:MIK) by 64.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 493,669 shares of the specialty retailer’s stock after purchasing an additional 193,823 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.27% of Michaels Companies worth $10,599,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in Michaels Companies in the second quarter worth $103,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Michaels Companies by 11.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,556 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 549 shares during the period. Pinebridge Investments L.P. acquired a new position in shares of Michaels Companies during the second quarter valued at $124,000. Pacer Advisors Inc. boosted its holdings in shares of Michaels Companies by 5.0% during the second quarter. Pacer Advisors Inc. now owns 8,028 shares of the specialty retailer’s stock valued at $149,000 after acquiring an additional 383 shares during the period. Finally, Suntrust Banks Inc. boosted its holdings in shares of Michaels Companies by 3.0% during the second quarter. Suntrust Banks Inc. now owns 12,680 shares of the specialty retailer’s stock valued at $234,000 after acquiring an additional 368 shares during the period.

Michaels Companies Inc (MIK) traded up $0.28 during mid-day trading on Thursday, reaching $24.78. 1,969,324 shares of the company traded hands, compared to its average volume of 1,681,841. The firm has a market capitalization of $4,490.00, a P/E ratio of 12.58, a P/E/G ratio of 1.10 and a beta of 0.92. Michaels Companies Inc has a 1-year low of $17.25 and a 1-year high of $25.00. The company has a quick ratio of 0.25, a current ratio of 1.39 and a debt-to-equity ratio of -1.56.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings data on Thursday, November 30th. The specialty retailer reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.26 billion. Michaels Companies had a net margin of 7.33% and a negative return on equity of 22.16%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. sell-side analysts expect that Michaels Companies Inc will post 2.16 EPS for the current fiscal year.

Several brokerages have recently issued reports on MIK. Zacks Investment Research downgraded shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Piper Jaffray Companies reissued a “hold” rating and set a $18.00 price target on shares of Michaels Companies in a report on Friday, September 29th. BidaskClub downgraded shares of Michaels Companies from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Raymond James Financial reissued a “hold” rating on shares of Michaels Companies in a report on Saturday, December 2nd. Finally, ValuEngine raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Michaels Companies presently has an average rating of “Hold” and a consensus price target of $23.63.

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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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