Vanguard Group Inc. boosted its stake in Pier 1 Imports, Inc. (NYSE:PIR) by 13.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,264,810 shares of the specialty retailer’s stock after purchasing an additional 959,886 shares during the quarter. Vanguard Group Inc. owned about 9.77% of Pier 1 Imports worth $42,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in PIR. Dimensional Fund Advisors LP raised its stake in Pier 1 Imports by 34.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,979,863 shares of the specialty retailer’s stock valued at $49,976,000 after purchasing an additional 1,789,745 shares in the last quarter. Teachers Advisors LLC raised its stake in Pier 1 Imports by 794.7% in the first quarter. Teachers Advisors LLC now owns 1,289,958 shares of the specialty retailer’s stock valued at $9,236,000 after purchasing an additional 1,145,780 shares in the last quarter. Menta Capital LLC purchased a new stake in Pier 1 Imports in the second quarter valued at approximately $1,926,000. Alliancebernstein L.P. raised 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 valued at $3,010,000 after purchasing an additional 341,428 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Pier 1 Imports by 52.4% in the first quarter. TIAA CREF Investment Management LLC now owns 709,341 shares of the specialty retailer’s stock valued at $5,079,000 after purchasing an additional 243,898 shares in the last quarter. 80.83% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on PIR. ValuEngine raised shares of Pier 1 Imports from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. UBS AG reaffirmed a “sell” rating and issued a $3.50 target price (down from $4.00) on shares of Pier 1 Imports in a research note on Saturday, September 30th. Zacks Investment Research downgraded shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. Credit Suisse Group reaffirmed a “sell” rating and issued a $4.00 target price on shares of Pier 1 Imports in a research note on Friday, September 29th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $4.20 target price (down from $4.60) on shares of Pier 1 Imports in a research note on Thursday, September 28th. Seven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.01.

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Pier 1 Imports, Inc. (PIR) opened at $4.25 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 2.23 and a debt-to-equity ratio of 0.75. Pier 1 Imports, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $9.68. The stock has a market cap of $356.11, a P/E ratio of 9.04, a PEG ratio of 2.24 and a beta of 1.79.

Pier 1 Imports (NYSE:PIR) last issued its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The firm had revenue of $407.61 million for the quarter, compared to analysts’ expectations of $406.32 million. During the same quarter last year, the business earned ($0.05) earnings per share. The business’s revenue was up .4% on a year-over-year basis. research analysts forecast that Pier 1 Imports, Inc. will post 0.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Tuesday, October 17th. Pier 1 Imports’s dividend payout ratio is 77.78%.

Pier 1 Imports Profile

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

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