California Public Employees Retirement System grew its stake in shares of Pier 1 Imports Inc (NYSE:PIR) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 640,729 shares of the specialty retailer’s stock after purchasing an additional 33,929 shares during the period. California Public Employees Retirement System owned about 0.76% of Pier 1 Imports worth $2,685,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Pier 1 Imports by 13.1% during the second quarter. Vanguard Group Inc. now owns 8,264,810 shares of the specialty retailer’s stock valued at $42,894,000 after purchasing an additional 959,886 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pier 1 Imports by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 7,149,503 shares of the specialty retailer’s stock valued at $37,105,000 after purchasing an additional 169,640 shares during the last quarter. State Street Corp lifted its holdings in shares of Pier 1 Imports by 4.9% during the second quarter. State Street Corp now owns 1,748,341 shares of the specialty retailer’s stock valued at $9,074,000 after purchasing an additional 81,907 shares during the last quarter. Towle & Co. purchased a new stake in shares of Pier 1 Imports during the third quarter valued at $6,481,000. Finally, Teachers Advisors LLC lifted its holdings in shares of Pier 1 Imports by 12.0% during the second quarter. Teachers Advisors LLC now owns 1,444,271 shares of the specialty retailer’s stock valued at $7,496,000 after purchasing an additional 154,313 shares during the last quarter. 78.35% of the stock is owned by institutional investors and hedge funds.
Pier 1 Imports Inc (NYSE:PIR) opened at $4.18 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.14 and a quick ratio of 0.61. Pier 1 Imports Inc has a 52-week low of $3.96 and a 52-week high of $8.63. The firm has a market capitalization of $350.24, a PE ratio of 14.41, a price-to-earnings-growth ratio of -6.97 and a beta of 1.86.
Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, December 13th. The specialty retailer reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). Pier 1 Imports had a return on equity of 11.12% and a net margin of 1.57%. The firm had revenue of $469.20 million during the quarter, compared to analyst estimates of $466.60 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. sell-side analysts anticipate that Pier 1 Imports Inc will post 0.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend is Tuesday, January 16th. Pier 1 Imports’s payout ratio is currently 96.55%.
PIR has been the subject of several analyst reports. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, November 29th. Gordon Haskett downgraded Pier 1 Imports from a “hold” rating to a “sell” rating and set a $3.50 price objective for the company. in a research note on Thursday, December 14th. ValuEngine raised Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Monday, December 11th. Loop Capital set a $4.00 price objective on Pier 1 Imports and gave the stock a “hold” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $4.00 price objective on shares of Pier 1 Imports in a research note on Friday, September 29th. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $4.78.
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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.
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