Bank of New York Mellon Corp Has $5.61 Million Position in Pier 1 Imports, Inc. (PIR)
Bank of New York Mellon Corp raised its position in Pier 1 Imports, Inc. (NYSE:PIR) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,081,277 shares of the specialty retailer’s stock after purchasing an additional 5,637 shares during the period. Bank of New York Mellon Corp owned approximately 1.28% of Pier 1 Imports worth $5,611,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Pier 1 Imports during the 2nd quarter worth $178,000. Rhumbline Advisers grew its stake in Pier 1 Imports by 0.5% in the second quarter. Rhumbline Advisers now owns 107,812 shares of the specialty retailer’s stock valued at $560,000 after acquiring an additional 491 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Pier 1 Imports in the second quarter worth about $206,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Pier 1 Imports by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,356,397 shares of the specialty retailer’s stock worth $7,040,000 after acquiring an additional 86,597 shares in the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of Pier 1 Imports in the second quarter worth about $688,000. 82.76% of the stock is owned by hedge funds and other institutional investors.
Pier 1 Imports, Inc. (NYSE PIR) opened at 4.38 on Wednesday. The company has a market capitalization of $355.13 million, a P/E ratio of 10.92 and a beta of 1.69. Pier 1 Imports, Inc. has a 1-year low of $3.96 and a 1-year high of $9.68. The firm has a 50-day moving average price of $4.31 and a 200-day moving average price of $5.36.
Pier 1 Imports (NYSE:PIR) last announced its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The company had revenue of $407.61 million for the quarter, compared to analysts’ expectations of $406.32 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Pier 1 Imports’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts forecast that Pier 1 Imports, Inc. will post $0.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.39%. Pier 1 Imports’s payout ratio is presently 77.78%.
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PIR has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Friday, June 30th. Johnson Rice cut Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research note on Thursday, June 29th. Credit Suisse Group lowered their target price on Pier 1 Imports from $4.00 to $3.50 and set an “underperform” rating for the company in a research note on Thursday, September 28th. Loop Capital reissued a “buy” rating and set a $10.00 target price (down from $12.00) on shares of Pier 1 Imports in a research note on Thursday, June 29th. Finally, KeyCorp restated a “hold” rating on shares of Pier 1 Imports in a report on Friday, September 8th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Pier 1 Imports has an average rating of “Hold” and a consensus target price of $5.09.
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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