Wells Fargo & Company MN lessened its stake in Michaels Companies Inc (NASDAQ:MIK) by 11.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 923,020 shares of the specialty retailer’s stock after selling 117,473 shares during the period. Wells Fargo & Company MN’s holdings in Michaels Companies were worth $14,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC boosted its stake in Michaels Companies by 4.6% in the second quarter. Mutual of America Capital Management LLC now owns 95,902 shares of the specialty retailer’s stock valued at $1,838,000 after acquiring an additional 4,180 shares in the last quarter. Dupont Capital Management Corp raised its holdings in shares of Michaels Companies by 12.6% in the second quarter. Dupont Capital Management Corp now owns 37,704 shares of the specialty retailer’s stock valued at $723,000 after buying an additional 4,209 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of Michaels Companies by 34.1% in the second quarter. D.A. Davidson & CO. now owns 17,841 shares of the specialty retailer’s stock valued at $342,000 after buying an additional 4,537 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Michaels Companies by 26.6% in the second quarter. BNP Paribas Arbitrage SA now owns 21,700 shares of the specialty retailer’s stock valued at $416,000 after buying an additional 4,563 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Michaels Companies by 9.5% in the second quarter. OppenheimerFunds Inc. now owns 76,694 shares of the specialty retailer’s stock valued at $1,470,000 after buying an additional 6,634 shares during the last quarter.

Shares of Michaels Companies stock opened at $16.42 on Thursday. Michaels Companies Inc has a 12-month low of $14.82 and a 12-month high of $27.87. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 7.57, a P/E/G ratio of 0.91 and a beta of 1.04.

Several research analysts recently issued reports on the stock. Credit Suisse Group reissued a “buy” rating on shares of Michaels Companies in a report on Thursday, August 9th. Deutsche Bank cut their price target on shares of Michaels Companies from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, August 31st. BidaskClub raised shares of Michaels Companies from a “hold” rating to a “buy” rating in a report on Saturday, October 13th. Wells Fargo & Co reissued a “hold” rating and set a $19.00 price target (down from $20.00) on shares of Michaels Companies in a report on Thursday, August 30th. Finally, Zacks Investment Research cut shares of Michaels Companies from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Michaels Companies presently has an average rating of “Hold” and a consensus price target of $22.22.

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

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

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