Pier 1 Imports, Inc. (PIR) Position Reduced by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System decreased its stake in Pier 1 Imports, Inc. (NYSE:PIR) by 56.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,074 shares of the specialty retailer’s stock after selling 93,878 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of Pier 1 Imports worth $302,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Aperio Group LLC acquired a new position in Pier 1 Imports in the second quarter worth $103,000. Eagle Global Advisors LLC acquired a new position in Pier 1 Imports in the second quarter worth $175,000. SG Americas Securities LLC acquired a new position in Pier 1 Imports in the second quarter worth $178,000. Public Employees Retirement System of Ohio boosted its stake in Pier 1 Imports by 4.4% in the second quarter. Public Employees Retirement System of Ohio now owns 37,431 shares of the specialty retailer’s stock worth $194,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Pier 1 Imports in the second quarter worth $206,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on PIR shares. ValuEngine lowered Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Thursday, September 21st. Morgan Stanley reissued an “underweight” rating and issued a $4.20 price objective (down previously from $4.60) on shares of Pier 1 Imports in a research note on Thursday, September 28th. Loop Capital lowered Pier 1 Imports from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research note on Thursday, September 28th. Zacks Investment Research raised Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Finally, BidaskClub upgraded Pier 1 Imports from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Pier 1 Imports presently has an average rating of “Hold” and a consensus target price of $5.01.
Shares of Pier 1 Imports, Inc. (NYSE PIR) opened at $4.45 on Wednesday. The company has a market capitalization of $373.70, a PE ratio of 9.49, a P/E/G ratio of -10.49 and a beta of 1.79. The company has a quick ratio of 0.43, a current ratio of 2.23 and a debt-to-equity ratio of 0.75. Pier 1 Imports, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $9.67.
Pier 1 Imports (NYSE:PIR) last released its quarterly earnings data on Wednesday, September 27th. The specialty retailer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $407.61 million during the quarter, compared to the consensus estimate of $406.32 million. Pier 1 Imports had a return on equity of 13.82% and a net margin of 1.61%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) earnings per share. equities analysts expect that Pier 1 Imports, Inc. will post 0.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 6.29%. Pier 1 Imports’s dividend payout ratio is presently 77.78%.
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Pier 1 Imports 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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