Royal Bank of Canada Sells 1,804 Shares of Pier 1 Imports, Inc. (PIR)
Royal Bank of Canada reduced its holdings in shares of Pier 1 Imports, Inc. (NYSE:PIR) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,063 shares of the specialty retailer’s stock after selling 1,804 shares during the period. Royal Bank of Canada owned about 0.05% of Pier 1 Imports worth $218,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Aperio Group LLC acquired a new stake in shares of Pier 1 Imports during the 2nd quarter valued at about $103,000. Eagle Global Advisors LLC acquired a new stake in shares of Pier 1 Imports during the 2nd quarter valued at about $175,000. SG Americas Securities LLC acquired a new stake in shares of Pier 1 Imports during the 2nd quarter valued at about $178,000. Wedge Capital Management L L P NC acquired a new stake in shares of Pier 1 Imports during the 2nd quarter valued at about $206,000. Finally, Voya Investment Management LLC boosted its position in shares of Pier 1 Imports by 14.6% during the 2nd quarter. Voya Investment Management LLC now owns 41,145 shares of the specialty retailer’s stock valued at $214,000 after acquiring an additional 5,238 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.
PIR has been the topic of several recent research reports. KeyCorp reiterated a “hold” rating on shares of Pier 1 Imports in a research report on Friday, September 8th. Zacks Investment Research upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Credit Suisse Group reiterated a “sell” rating and set a $4.00 target price on shares of Pier 1 Imports in a research report on Friday, September 29th. BidaskClub upgraded shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Loop Capital lowered shares of Pier 1 Imports from a “buy” rating to a “hold” rating and decreased their target price for the company from $8.00 to $4.00 in a research report 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 given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $5.01.
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Pier 1 Imports, Inc. (NYSE PIR) opened at $4.57 on Thursday. Pier 1 Imports, Inc. has a 12 month low of $3.96 and a 12 month high of $9.67. The firm has a market cap of $372.86, a PE ratio of 9.47, a price-to-earnings-growth ratio of -10.47 and a beta of 1.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.23 and a quick ratio of 0.43.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was up .4% on a year-over-year basis. sell-side analysts anticipate that Pier 1 Imports, Inc. will post 0.43 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend was Tuesday, October 17th. Pier 1 Imports’s dividend payout ratio is presently 77.78%.
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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