Tocqueville Asset Management L.P. Buys 65,950 Shares of Pier 1 Imports Inc. (PIR)
Tocqueville Asset Management L.P. raised its stake in Pier 1 Imports Inc. (NYSE:PIR) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,361,122 shares of the company’s stock after buying an additional 65,950 shares during the period. Tocqueville Asset Management L.P.’s holdings in Pier 1 Imports were worth $6,996,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Pier 1 Imports by 146,013.3% in the first quarter. JPMorgan Chase & Co. now owns 1,317,942 shares of the company’s stock valued at $9,239,000 after buying an additional 1,317,040 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Pier 1 Imports during the second quarter valued at about $4,193,000. Bogle Investment Management L P DE acquired a new position in shares of Pier 1 Imports during the first quarter valued at about $5,087,000. Canada Pension Plan Investment Board increased its position in shares of Pier 1 Imports by 98.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,240,200 shares of the company’s stock valued at $8,694,000 after buying an additional 615,600 shares during the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of Pier 1 Imports during the first quarter valued at about $1,781,000. 97.91% of the stock is currently owned by institutional investors.
Pier 1 Imports Inc. (NYSE:PIR) traded up 4.81% during midday trading on Tuesday, reaching $4.36. 2,197,723 shares of the company’s stock traded hands. The company’s 50-day moving average price is $4.31 and its 200 day moving average price is $5.29. The stock has a market capitalization of $350.70 million, a price-to-earnings ratio of 18.32 and a beta of 1.82. Pier 1 Imports Inc. has a 52 week low of $3.73 and a 52 week high of $8.23.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings data on Wednesday, September 28th. The company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Pier 1 Imports had a net margin of 1.06% and a return on equity of 7.20%. The company earned $405.80 million during the quarter. During the same quarter last year, the business posted $0.04 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, equities research analysts expect that Pier 1 Imports Inc. will post $0.24 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.73%. Pier 1 Imports’s dividend payout ratio (DPR) is 116.67%.
Several research analysts have issued reports on PIR shares. BTIG Research reissued a “sell” rating and set a $3.50 price objective on shares of Pier 1 Imports in a research report on Thursday, September 22nd. Wolfe Research raised shares of Pier 1 Imports from an “underperform” rating to a “peer perform” rating in a report on Wednesday, June 22nd. Wedbush reaffirmed an “outperform” rating on shares of Pier 1 Imports in a report on Wednesday, September 28th. Telsey Advisory Group lowered their target price on shares of Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a report on Thursday, June 30th. Finally, Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. Pier 1 Imports currently has a consensus rating of “Hold” and a consensus price target of $6.30.
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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