California State Teachers Retirement System cut its position in shares of Pier 1 Imports Inc. (NYSE:PIR) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 169,806 shares of the company’s stock after selling 7,460 shares during the period. California State Teachers Retirement System owned about 0.21% of Pier 1 Imports worth $873,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Bayesian Capital Management LP bought a new position in Pier 1 Imports during the first quarter valued at $118,000. Smith Asset Management Group LP bought a new position in Pier 1 Imports during the second quarter valued at $155,000. Americafirst Capital Management LLC bought a new position in Pier 1 Imports during the second quarter valued at $164,000. Ngam Advisors L.P. bought a new position in Pier 1 Imports during the first quarter valued at $239,000. Finally, Quantitative Systematic Strategies LLC bought a new position in Pier 1 Imports during the second quarter valued at $184,000. 98.63% of the stock is currently owned by institutional investors.
Pier 1 Imports Inc. (NYSE:PIR) traded up 4.68% during trading on Thursday, hitting $4.47. 13,455,566 shares of the stock traded hands. Pier 1 Imports Inc. has a 12 month low of $3.73 and a 12 month high of $8.23. The company has a 50-day moving average price of $4.42 and a 200-day moving average price of $5.50. The stock has a market cap of $365.03 million, a PE ratio of 14.15 and a beta of 1.73.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings data on Wednesday, September 28th. The company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). Pier 1 Imports had a return on equity of 9.60% and a net margin of 1.44%. The firm earned $405.80 million during the quarter. During the same period in the prior year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities research analysts expect that Pier 1 Imports Inc. will post $0.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 6.26%. Pier 1 Imports’s dividend payout ratio is currently 84.85%.
Several research analysts have weighed in on PIR shares. Jefferies Group reissued a “hold” rating and issued a $4.50 price target on shares of Pier 1 Imports in a report on Thursday. Deutsche Bank AG started coverage on shares of Pier 1 Imports in a report on Sunday, June 26th. They issued a “sell” rating and a $5.50 price target on the stock. BTIG Research reissued a “sell” rating on shares of Pier 1 Imports in a report on Thursday. Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a report on Saturday, September 10th. Finally, Credit Suisse Group AG cut shares of Pier 1 Imports from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $4.50 to $4.00 in a report on Thursday, September 8th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.30.
About Pier 1 Imports
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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