NJ State Employees Deferred Compensation Plan continued to hold its stake in Pier 1 Imports, Inc. (NYSE:PIR) during the second quarter, Holdings Channel reports. The firm owned 25,000 shares of the specialty retailer’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Pier 1 Imports were worth $130,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Pier 1 Imports by 19.3% in the first quarter. Vanguard Group Inc. now owns 7,304,924 shares of the specialty retailer’s stock worth $52,303,000 after buying an additional 1,179,575 shares in the last quarter. Dimensional Fund Advisors LP increased 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 worth $49,976,000 after buying an additional 1,789,745 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Pier 1 Imports by 32.4% in the first quarter. JPMorgan Chase & Co. now owns 5,132,128 shares of the specialty retailer’s stock worth $36,745,000 after buying an additional 1,254,498 shares in the last quarter. Acadian Asset Management LLC increased its stake in Pier 1 Imports by 199.2% in the first quarter. Acadian Asset Management LLC now owns 3,232,944 shares of the specialty retailer’s stock worth $23,149,000 after buying an additional 2,152,335 shares in the last quarter. Finally, Norges Bank bought a new stake in Pier 1 Imports during the fourth quarter worth about $19,158,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pier 1 Imports, Inc. (NYSE:PIR) opened at 4.27 on Friday. Pier 1 Imports, Inc. has a one year low of $3.73 and a one year high of $9.68. The stock’s 50 day moving average price is $4.78 and its 200-day moving average price is $6.11. The company has a market cap of $346.21 million, a PE ratio of 10.65 and a beta of 1.70.

Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Pier 1 Imports had a net margin of 1.82% and a return on equity of 13.96%. The company had revenue of $409.50 million during the quarter, compared to analyst estimates of $420.80 million. During the same quarter last year, the business posted ($0.07) EPS. Pier 1 Imports’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, analysts expect that Pier 1 Imports, Inc. will post $0.47 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, July 17th. This represents a $0.28 annualized dividend and a dividend yield of 6.56%. Pier 1 Imports’s payout ratio is currently 68.29%.

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A number of analysts recently issued reports on PIR shares. Telsey Advisory Group lowered their target price on Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Thursday, June 29th. Jefferies Group LLC lowered their target price on Pier 1 Imports from $7.25 to $5.90 and set a “hold” rating on the stock in a research report on Friday, June 30th. Gordon Haskett raised Pier 1 Imports from a “reduce” rating to a “hold” rating and set a $6.00 target price on the stock in a research report on Tuesday, June 27th. CIBC reaffirmed a “hold” rating on shares of Pier 1 Imports in a research report on Monday, April 17th. Finally, Zacks Investment Research downgraded Pier 1 Imports from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $5.69.

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

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