California Public Employees Retirement System Reduces Position in Pier 1 Imports, Inc. (PIR)

California Public Employees Retirement System cut its stake in Pier 1 Imports, Inc. (NYSE:PIR) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 606,800 shares of the specialty retailer’s stock after selling 51,200 shares during the quarter. California Public Employees Retirement System owned about 0.72% of Pier 1 Imports worth $3,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PIR. Bank of New York Mellon Corp lifted its position in Pier 1 Imports by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 1,075,640 shares of the specialty retailer’s stock worth $7,702,000 after buying an additional 50,380 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Pier 1 Imports by 84.0% in the first quarter. UBS Asset Management Americas Inc. now owns 53,551 shares of the specialty retailer’s stock worth $383,000 after purchasing an additional 24,454 shares during the period. Prudential Financial Inc. purchased a new stake in Pier 1 Imports in the first quarter worth $2,093,000. American International Group Inc. increased its stake in Pier 1 Imports by 7.1% in the first quarter. American International Group Inc. now owns 49,865 shares of the specialty retailer’s stock worth $357,000 after purchasing an additional 3,298 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Pier 1 Imports by 432.6% in the first quarter. Alliancebernstein L.P. now owns 420,356 shares of the specialty retailer’s stock worth $3,010,000 after purchasing an additional 341,428 shares during the period. Institutional investors own 80.83% of the company’s stock.

Shares of Pier 1 Imports, Inc. (NYSE:PIR) traded up $0.08 during midday trading on Friday, reaching $4.39. The company’s stock had a trading volume of 1,026,600 shares, compared to its average volume of 2,289,957. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.43 and a current ratio of 2.23. The firm has a market capitalization of $361.13, a P/E ratio of 9.17, a PEG ratio of -10.14 and a beta of 1.79. Pier 1 Imports, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $9.67.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The business had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. During the same quarter last year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. analysts expect that Pier 1 Imports, Inc. will post 0.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date of this dividend was Tuesday, October 17th. Pier 1 Imports’s dividend payout ratio (DPR) is 77.78%.

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PIR has been the topic of a number of recent analyst reports. ValuEngine lowered Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Morgan Stanley restated an “underweight” rating and set a $4.20 price target (down previously from $4.60) on shares of Pier 1 Imports in a research note on Thursday, September 28th. Loop Capital lowered Pier 1 Imports from a “buy” rating to a “hold” rating and cut their price target for the company from $8.00 to $4.00 in a research note on Thursday, September 28th. Zacks Investment Research upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Finally, BidaskClub upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $5.01.

About Pier 1 Imports

Pier 1 Imports, Inc is an importer of home decor and furniture. The Company’s operations consist of retail stores and an e-commerce Website conducting business under the name Pier 1 Imports, which sells a range of decorative accessories, furniture, candles, housewares, gifts and seasonal products. The Company’s categories of merchandise include decorative accessories and furniture.

Institutional Ownership by Quarter for Pier 1 Imports (NYSE:PIR)

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