Geode Capital Management LLC lowered its stake in shares of Pier 1 Imports (NYSE:PIR) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,406,328 shares of the specialty retailer’s stock after selling 155,893 shares during the quarter. Geode Capital Management LLC owned approximately 1.69% of Pier 1 Imports worth $5,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Spark Investment Management LLC raised its holdings in Pier 1 Imports by 230.6% during the fourth quarter. Spark Investment Management LLC now owns 917,100 shares of the specialty retailer’s stock worth $3,796,000 after purchasing an additional 639,700 shares in the last quarter. Virtu Financial LLC raised its holdings in Pier 1 Imports by 174.6% during the fourth quarter. Virtu Financial LLC now owns 61,834 shares of the specialty retailer’s stock worth $256,000 after purchasing an additional 39,315 shares in the last quarter. BlackRock Inc. raised its holdings in Pier 1 Imports by 0.5% during the fourth quarter. BlackRock Inc. now owns 5,600,050 shares of the specialty retailer’s stock worth $23,184,000 after purchasing an additional 26,539 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Pier 1 Imports by 16.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,251,926 shares of the specialty retailer’s stock worth $5,182,000 after purchasing an additional 175,722 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. raised its holdings in Pier 1 Imports by 6.7% during the fourth quarter. Eagle Boston Investment Management Inc. now owns 687,288 shares of the specialty retailer’s stock worth $2,845,000 after purchasing an additional 43,118 shares in the last quarter. 78.04% of the stock is currently owned by institutional investors.

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In other news, major shareholder & Co Towle acquired 32,900 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were purchased at an average cost of $3.09 per share, for a total transaction of $101,661.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders purchased 45,705 shares of company stock worth $142,468. 5.45% of the stock is currently owned by insiders.

NYSE:PIR opened at $3.52 on Tuesday. Pier 1 Imports has a 1-year low of $2.87 and a 1-year high of $7.22. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 2.14. The firm has a market capitalization of $280.88, a P/E ratio of 8.00, a PEG ratio of -5.52 and a beta of 1.46.

PIR has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Pier 1 Imports in a report on Thursday, January 25th. Finally, Vetr cut shares of Pier 1 Imports from a “strong-buy” rating to a “buy” rating and set a $3.79 target price on the stock. in a report on Thursday, April 5th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $4.49.

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Pier 1 Imports Company Profile

Pier 1 Imports, Inc engages in the retail sale of decorative accessories, furniture, candles, housewares, gifts, and seasonal products. It offers decorative accents and textiles, such as rugs, wall decorations and mirrors, pillows, bedding, lamps, vases, dried and artificial flowers, baskets, ceramics, dinnerware, candles, fragrances, gifts, and seasonal items; and furniture and furniture cushions that are used in living, dining, office, kitchen and bedroom areas, sunrooms, and patios.

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

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