Teacher Retirement System of Texas raised its holdings in shares of Michaels Companies Inc (NASDAQ:MIK) by 5,916.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 776,266 shares of the specialty retailer’s stock after purchasing an additional 763,363 shares during the quarter. Teacher Retirement System of Texas owned 0.49% of Michaels Companies worth $10,511,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MIK. Prudential Financial Inc. increased its stake in Michaels Companies by 1,135.5% during the 4th quarter. Prudential Financial Inc. now owns 1,503,157 shares of the specialty retailer’s stock valued at $20,353,000 after purchasing an additional 1,381,497 shares in the last quarter. Goldentree Asset Management LP increased its stake in Michaels Companies by 114.9% during the 3rd quarter. Goldentree Asset Management LP now owns 1,612,045 shares of the specialty retailer’s stock valued at $26,163,000 after purchasing an additional 862,045 shares in the last quarter. Bernzott Capital Advisors boosted its holdings in Michaels Companies by 43.3% during the 4th quarter. Bernzott Capital Advisors now owns 1,778,180 shares of the specialty retailer’s stock worth $24,077,000 after acquiring an additional 537,170 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Michaels Companies by 1,108.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 525,907 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 482,395 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Michaels Companies by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,434,311 shares of the specialty retailer’s stock worth $32,960,000 after acquiring an additional 448,448 shares during the last quarter.
A number of equities analysts have issued reports on MIK shares. Loop Capital set a $14.00 price objective on shares of Michaels Companies and gave the stock a “hold” rating in a report on Thursday, December 27th. They noted that the move was a valuation call. Zacks Investment Research reissued a “buy” rating and issued a $14.00 price target on shares of Michaels Companies in a report on Monday, December 31st. BidaskClub raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Saturday, January 5th. Bank of America reissued a “buy” rating and issued a $21.00 price target (down from $25.00) on shares of Michaels Companies in a report on Wednesday, January 9th. Finally, Credit Suisse Group reissued a “positive” rating and issued a $20.00 price target (down from $26.00) on shares of Michaels Companies in a report on Thursday, January 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.30.
Michaels Companies (NASDAQ:MIK) last released its quarterly earnings data on Tuesday, March 19th. The specialty retailer reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.02. Michaels Companies had a net margin of 6.06% and a negative return on equity of 24.50%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Michaels Companies Inc will post 2.46 EPS for the current fiscal year.
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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