Envestnet Asset Management Inc. reduced its stake in shares of Michaels Companies Inc (NASDAQ:MIK) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,643 shares of the specialty retailer’s stock after selling 22,727 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Michaels Companies worth $3,513,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. 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 worth $234,000 after purchasing an additional 368 shares during the period. 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 worth $149,000 after purchasing an additional 383 shares during the period. 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 worth $103,000 after purchasing an additional 549 shares during the period. People s United Financial Inc. boosted its holdings in shares of Michaels Companies by 5.5% during the second quarter. People s United Financial Inc. now owns 17,323 shares of the specialty retailer’s stock worth $321,000 after purchasing an additional 904 shares during the period. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Michaels Companies by 5.4% during the second quarter. Thrivent Financial For Lutherans now owns 21,120 shares of the specialty retailer’s stock worth $391,000 after purchasing an additional 1,080 shares during the period.

A number of analysts have recently weighed in on the stock. Piper Jaffray Companies set a $18.00 target price on shares of Michaels Companies and gave the stock a “hold” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. BidaskClub lowered shares of Michaels Companies from a “hold” rating to a “sell” rating in a report on Friday, October 13th. ValuEngine lowered shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Bank of America restated a “buy” rating and issued a $29.00 price objective on shares of Michaels Companies in a report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $23.63.

Shares of Michaels Companies Inc (MIK) opened at $21.63 on Wednesday. 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 Inc has a 1-year low of $17.25 and a 1-year high of $24.24. The company has a market cap of $4,027.34, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

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

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About 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.

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

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