D.A. Davidson & CO. grew its position in shares of The Michaels Companies, Inc. (NASDAQ:MIK) by 45.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,735 shares of the specialty retailer’s stock after purchasing an additional 5,530 shares during the period. D.A. Davidson & CO.’s holdings in The Michaels Companies were worth $328,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in shares of The 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Michaels Companies by 11.0% in the 2nd 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 last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of The Michaels Companies by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the specialty retailer’s stock valued at $511,000 after acquiring an additional 800 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in shares of 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 acquiring an additional 1,080 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in shares of The Michaels Companies by 24.6% in the 2nd quarter. LS Investment Advisors LLC now owns 8,825 shares of the specialty retailer’s stock valued at $163,000 after acquiring an additional 1,745 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Shares of The Michaels Companies, Inc. (NASDAQ:MIK) opened at 21.47 on Monday. The stock has a market capitalization of $3.89 billion, a PE ratio of 11.19 and a beta of 0.92. The Michaels Companies, Inc. has a 52-week low of $17.25 and a 52-week high of $25.57. The firm has a 50-day moving average of $21.01 and a 200 day moving average of $20.73.

The Michaels Companies (NASDAQ:MIK) last issued its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. The Michaels Companies had a negative return on equity of 22.53% and a net margin of 7.29%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 earnings per share. Equities research analysts forecast that The Michaels Companies, Inc. will post $2.14 EPS for the current fiscal year.

The Michaels Companies declared that its board has approved a share buyback plan on Thursday, June 15th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Several equities research analysts have weighed in on the company. Zacks Investment Research cut The Michaels Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. ValuEngine downgraded The Michaels Companies from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Bank of America Corporation restated a “buy” rating and set a $29.00 price target on shares of The Michaels Companies in a report on Tuesday, September 5th. BidaskClub downgraded The Michaels Companies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 price objective on shares of The Michaels Companies in a research note on Tuesday, June 13th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.25.

WARNING: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/10/02/the-michaels-companies-inc-mik-shares-bought-by-d-a-davidson-co.html.

The 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.

Want to see what other hedge funds are holding MIK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Michaels Companies, Inc. (NASDAQ:MIK).

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

Receive News & Stock Ratings for The Michaels Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Michaels Companies Inc. and related stocks with our FREE daily email newsletter.