Canada Pension Plan Investment Board boosted its holdings in shares of The Michaels Companies, Inc. (NASDAQ:MIK) by 386.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,300 shares of the specialty retailer’s stock after acquiring an additional 78,100 shares during the period. Canada Pension Plan Investment Board owned 0.05% of The Michaels Companies worth $2,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. lifted 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 valued at $112,804,000 after acquiring an additional 2,086,817 shares during the period. BlackRock Inc. lifted 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 valued at $162,099,000 after acquiring an additional 583,585 shares during the period. Rhumbline Advisers lifted its position in The Michaels Companies by 12.2% during the 2nd quarter. Rhumbline Advisers now owns 204,645 shares of the specialty retailer’s stock valued at $3,790,000 after acquiring an additional 22,190 shares during the period. Flinton Capital Management LLC increased its stake in The Michaels Companies by 75.9% during the 2nd quarter. Flinton Capital Management LLC now owns 58,512 shares of the specialty retailer’s stock valued at $1,084,000 after purchasing an additional 25,248 shares in the last quarter. Finally, Mork Capital Management LLC increased its stake in The Michaels Companies by 120.0% during the 2nd quarter. Mork Capital Management LLC now owns 55,000 shares of the specialty retailer’s stock valued at $1,019,000 after purchasing an additional 30,000 shares in the last quarter.

Shares of The Michaels Companies, Inc. (NASDAQ:MIK) opened at $18.99 on Friday. The Michaels Companies, Inc. has a 12 month low of $17.25 and a 12 month high of $25.57. The company has a market cap of $3,340.00, a P/E ratio of 9.44, a PEG ratio of 0.82 and a beta of 0.86. The company has a quick ratio of 0.26, a current ratio of 1.44 and a debt-to-equity ratio of -1.53.

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

A number of analysts have weighed in on MIK shares. BidaskClub upgraded shares of The Michaels Companies from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. Zacks Investment Research lowered shares of The Michaels Companies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. ValuEngine upgraded shares of The Michaels Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Piper Jaffray Companies lowered shares of The Michaels Companies from a “neutral” rating to an “underweight” rating in a research note on Friday, October 27th. Finally, Bank of America Corporation restated a “buy” rating and set a $29.00 price objective on shares of The Michaels Companies in a research note on Tuesday, September 5th. Two 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.29.

TRADEMARK VIOLATION NOTICE: This piece of content was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/18/canada-pension-plan-investment-board-acquires-78100-shares-of-the-michaels-companies-inc-mik.html.

About The Michaels Companies

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 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.