Pier 1 Imports, Inc. (PIR) Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board reduced its position in shares of Pier 1 Imports, Inc. (NYSE:PIR) by 37.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 221,500 shares of the specialty retailer’s stock after selling 133,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.26% of Pier 1 Imports worth $1,150,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alambic Investment Management L.P. purchased a new position in Pier 1 Imports during the first quarter worth approximately $104,000. Aperio Group LLC bought a new position in shares of Pier 1 Imports during the second quarter worth about $103,000. Jane Street Group LLC boosted its position in shares of Pier 1 Imports by 29.0% in the first quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock worth $154,000 after buying an additional 4,853 shares during the period. Airain ltd bought a new position in shares of Pier 1 Imports during the first quarter worth about $159,000. Finally, Teza Capital Management LLC bought a new position in shares of Pier 1 Imports during the first quarter worth about $167,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pier 1 Imports, Inc. (NYSE PIR) opened at 4.20 on Tuesday. Pier 1 Imports, Inc. has a one year low of $3.73 and a one year high of $9.68. The stock has a market capitalization of $340.54 million, a price-to-earnings ratio of 10.47 and a beta of 1.70. The firm has a 50-day moving average of $4.48 and a 200 day moving average of $5.86.
Pier 1 Imports (NYSE:PIR) last announced its quarterly earnings data on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $409.50 million during the quarter, compared to analysts’ expectations of $420.80 million. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) earnings per share. On average, equities research analysts predict that Pier 1 Imports, Inc. will post $0.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Wednesday, July 19th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date of this dividend was Monday, July 17th. Pier 1 Imports’s dividend payout ratio (DPR) is currently 68.29%.
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A number of brokerages have recently issued reports on PIR. Morgan Stanley reduced their price objective on Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, June 30th. Deutsche Bank AG reduced their price objective on Pier 1 Imports from $6.25 to $5.00 and set a “sell” rating on the stock in a research note on Wednesday, May 31st. Gordon Haskett began coverage on Pier 1 Imports in a research note on Tuesday, May 9th. They set a “reduce” rating and a $6.00 price objective on the stock. Johnson Rice cut Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Loop Capital reaffirmed a “buy” rating and set a $10.00 price objective (down from $12.00) on shares of Pier 1 Imports in a research note on Thursday, June 29th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.69.
Pier 1 Imports Company 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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