Towle & Co. bought a new position in shares of Pier 1 Imports, Inc. (NYSE:PIR) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,546,877 shares of the specialty retailer’s stock, valued at approximately $6,481,000. Towle & Co. owned approximately 1.85% of Pier 1 Imports at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Pier 1 Imports by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,264,810 shares of the specialty retailer’s stock worth $42,894,000 after buying an additional 959,886 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pier 1 Imports by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,149,503 shares of the specialty retailer’s stock valued at $37,105,000 after purchasing an additional 169,640 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Pier 1 Imports by 4.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,039,867 shares of the specialty retailer’s stock valued at $10,588,000 after acquiring an additional 89,989 shares during the period. State Street Corp raised its holdings in Pier 1 Imports by 4.9% in the 2nd quarter. State Street Corp now owns 1,748,341 shares of the specialty retailer’s stock valued at $9,074,000 after acquiring an additional 81,907 shares during the period. Finally, Teachers Advisors LLC raised its holdings in Pier 1 Imports by 12.0% in the 2nd quarter. Teachers Advisors LLC now owns 1,444,271 shares of the specialty retailer’s stock valued at $7,496,000 after acquiring an additional 154,313 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.
Pier 1 Imports, Inc. (PIR) traded down $0.05 during trading on Tuesday, reaching $4.46. 670,300 shares of the company traded hands, compared to its average volume of 2,249,759. Pier 1 Imports, Inc. has a 1-year low of $3.96 and a 1-year high of $9.67. The stock has a market capitalization of $373.70, a PE ratio of 9.60, a PEG ratio of -10.61 and a beta of 1.79. The company has a current ratio of 2.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.75.
Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $407.61 million for the quarter, compared to analysts’ expectations of $406.32 million. Pier 1 Imports had a net margin of 1.61% and a return on equity of 13.82%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. equities analysts predict that Pier 1 Imports, Inc. will post 0.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend was Tuesday, October 17th. Pier 1 Imports’s payout ratio is currently 77.78%.
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PIR has been the topic of several research analyst reports. BidaskClub raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Loop Capital lowered their target price on shares of Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Pier 1 Imports from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. ValuEngine cut shares of Pier 1 Imports from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $5.90 price objective on shares of Pier 1 Imports in a research note on Sunday, September 3rd. 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. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.01.
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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