Aperio Group LLC Sells 49,845 Shares of The Michaels Companies, Inc. (MIK)

Aperio Group LLC lessened its stake in The Michaels Companies, Inc. (NASDAQ:MIK) by 43.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,263 shares of the specialty retailer’s stock after selling 49,845 shares during the period. Aperio Group LLC’s holdings in The Michaels Companies were worth $1,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. increased its position in The Michaels Companies by 7.1% during the 2nd quarter. BlackRock Inc. now owns 8,752,674 shares of the specialty retailer’s stock worth $162,099,000 after purchasing an additional 583,585 shares during the period. Alliancebernstein L.P. increased its position in The Michaels Companies by 52.1% during the 2nd quarter. Alliancebernstein L.P. now owns 6,090,904 shares of the specialty retailer’s stock worth $112,804,000 after purchasing an additional 2,086,817 shares during the period. State Street Corp increased its position in The Michaels Companies by 15.5% during the 2nd quarter. State Street Corp now owns 5,872,512 shares of the specialty retailer’s stock worth $108,763,000 after purchasing an additional 787,225 shares during the period. William Blair Investment Management LLC increased its position in The Michaels Companies by 3.6% during the 2nd quarter. William Blair Investment Management LLC now owns 4,392,319 shares of the specialty retailer’s stock worth $81,346,000 after purchasing an additional 152,308 shares during the period. Finally, Prudential Financial Inc. increased its position in The Michaels Companies by 34.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,336,810 shares of the specialty retailer’s stock worth $24,757,000 after purchasing an additional 342,641 shares during the period.

Several equities analysts have issued reports on MIK shares. J P Morgan Chase & Co upgraded The Michaels Companies from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Monday, July 24th. BidaskClub raised The Michaels Companies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised The Michaels Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies set a $18.00 price target on The Michaels Companies and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, ValuEngine lowered The Michaels Companies from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $24.29.

Shares of The Michaels Companies, Inc. (NASDAQ:MIK) opened at $18.45 on Friday. The company has a market capitalization of $3,297.57, a P/E ratio of 9.44, a PEG ratio of 0.82 and a beta of 0.86. The company has a debt-to-equity ratio of -1.53, a quick ratio of 0.26 and a current ratio of 1.44. The Michaels Companies, Inc. has a 52 week low of $17.25 and a 52 week high of $25.57.

The Michaels Companies (NASDAQ:MIK) last posted its earnings results on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $0.17 EPS. The Michaels Companies’s revenue was up 1.2% on a year-over-year basis. research analysts expect that The Michaels Companies, Inc. will post 2.14 earnings per share for the current fiscal year.

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The Michaels Companies 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.

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

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