Legal & General Group Plc Cuts Stake in Pier 1 Imports, Inc. (NYSE:PIR)
Legal & General Group Plc decreased its position in Pier 1 Imports, Inc. (NYSE:PIR) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 25,605 shares of the specialty retailer’s stock after selling 365 shares during the period. Legal & General Group Plc’s holdings in Pier 1 Imports were worth $183,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Alambic Investment Management L.P. bought a new position in shares of Pier 1 Imports during the first quarter worth approximately $104,000. Airain ltd acquired a new position in shares of Pier 1 Imports during the first quarter valued at about $159,000. Teza Capital Management LLC acquired a new position in shares of Pier 1 Imports during the first quarter valued at about $167,000. Janney Montgomery Scott LLC acquired a new position in shares of Pier 1 Imports during the first quarter valued at about $177,000. Finally, Bbva Compass Bancshares Inc. raised its position in shares of Pier 1 Imports by 15.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 29,432 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 3,834 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pier 1 Imports, Inc. (NYSE PIR) traded up 2.81% during midday trading on Friday, reaching $4.39. 1,428,625 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $4.76 and its 200 day moving average price is $6.09. The stock has a market capitalization of $355.94 million, a P/E ratio of 10.95 and a beta of 1.70. Pier 1 Imports, Inc. has a 1-year low of $3.73 and a 1-year high of $9.68.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) 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 analysts’ expectations of $420.80 million. During the same quarter last year, the business earned ($0.07) EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, equities analysts predict that Pier 1 Imports, Inc. will post $0.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Stockholders of record on Wednesday, July 19th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend was Monday, July 17th. Pier 1 Imports’s dividend payout ratio (DPR) is presently 68.29%.
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PIR has been the topic of several research reports. Credit Suisse Group set a $4.00 price objective on shares of Pier 1 Imports and gave the company an “underperform” rating in a report on Friday, July 7th. BidaskClub lowered shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Zacks Investment Research lowered shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Citigroup Inc. initiated coverage on shares of Pier 1 Imports in a report on Friday, April 28th. They set a “neutral” rating and a $7.00 price objective on the stock. Finally, Deutsche Bank AG cut their price objective on shares of Pier 1 Imports from $5.00 to $4.00 and set a “sell” rating on the stock in a report on Friday, June 30th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target 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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