Public Employees Retirement System of Ohio grew its holdings in Michaels Companies Inc (NASDAQ:MIK) by 26.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,131 shares of the specialty retailer’s stock after buying an additional 4,859 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Michaels Companies were worth $164,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado increased its position in shares of Michaels Companies by 31.6% during the first quarter. Public Employees Retirement Association of Colorado now owns 17,282 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 4,153 shares in the last quarter. Maryland Capital Management purchased a new stake in shares of Michaels Companies during the first quarter worth approximately $29,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Michaels Companies during the first quarter worth approximately $29,000. Advisor Group Holdings Inc. increased its position in shares of Michaels Companies by 107.5% during the second quarter. Advisor Group Holdings Inc. now owns 4,167 shares of the specialty retailer’s stock worth $29,000 after purchasing an additional 2,159 shares in the last quarter. Finally, Globeflex Capital L P increased its position in shares of Michaels Companies by 115.0% during the first quarter. Globeflex Capital L P now owns 20,310 shares of the specialty retailer’s stock worth $33,000 after purchasing an additional 10,864 shares in the last quarter.
Shares of Michaels Companies stock opened at $9.42 on Friday. Michaels Companies Inc has a 52 week low of $1.00 and a 52 week high of $11.70. The business’s fifty day simple moving average is $9.80 and its 200-day simple moving average is $5.72. The firm has a market cap of $1.39 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 4.88 and a beta of 3.04.
Michaels Companies (NASDAQ:MIK) last announced its quarterly earnings results on Thursday, September 3rd. The specialty retailer reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.38. Michaels Companies had a negative return on equity of 14.84% and a net margin of 2.84%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Michaels Companies Inc will post 1.68 earnings per share for the current year.
MIK has been the subject of several research reports. Loop Capital boosted their price target on Michaels Companies from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet upgraded Michaels Companies from a “d+” rating to a “c” rating in a report on Thursday, September 3rd. BidaskClub cut Michaels Companies from a “strong-buy” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company upped their target price on Michaels Companies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Zacks Investment Research upgraded Michaels Companies from a “sell” rating to a “hold” rating and set a $12.00 target price for the company in a report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Michaels Companies presently has a consensus rating of “Hold” and a consensus target price of $11.72.
Michaels Companies Company Profile
The Michaels Companies, Inc owns and operates arts and crafts specialty retail stores for Makers and do-it-yourself home decorators in North America. It operates Michaels stores that offer approximately 45,000 stock-keeping units (SKUs) in crafts, home decor and seasonal, framing, and paper crafting; and Aaron Brothers stores, which offer approximately 5,600 SKUs, including photo frames, a line of ready-made frames, art prints, framed art, art supplies, and custom framing services.
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