Metropolitan Life Insurance Co. NY boosted its stake in Pier 1 Imports, Inc. (NYSE:PIR) by 5.0% during the first quarter, Holdings Channel reports. The fund owned 53,468 shares of the specialty retailer’s stock after buying an additional 2,561 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Pier 1 Imports were worth $383,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of PIR. Vanguard Group Inc. raised its position in Pier 1 Imports by 19.3% in the first quarter. Vanguard Group Inc. now owns 7,304,924 shares of the specialty retailer’s stock valued at $52,303,000 after buying an additional 1,179,575 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Pier 1 Imports by 34.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,979,863 shares of the specialty retailer’s stock worth $49,976,000 after buying an additional 1,789,745 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Pier 1 Imports by 32.4% in the first quarter. JPMorgan Chase & Co. now owns 5,132,128 shares of the specialty retailer’s stock worth $36,745,000 after buying an additional 1,254,498 shares in the last quarter. Acadian Asset Management LLC raised its stake in Pier 1 Imports by 199.2% in the first quarter. Acadian Asset Management LLC now owns 3,232,944 shares of the specialty retailer’s stock worth $23,149,000 after buying an additional 2,152,335 shares in the last quarter. Finally, Bogle Investment Management L P DE raised its stake in Pier 1 Imports by 14.0% in the first quarter. Bogle Investment Management L P DE now owns 1,639,056 shares of the specialty retailer’s stock worth $11,735,000 after buying an additional 200,852 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
Pier 1 Imports, Inc. (NYSE PIR) traded up 0.374% during trading on Friday, hitting $4.025. The stock had a trading volume of 248,462 shares. The stock has a market cap of $326.35 million, a PE ratio of 10.037 and a beta of 1.70. Pier 1 Imports, Inc. has a 1-year low of $3.73 and a 1-year high of $9.68. The firm’s 50-day moving average price is $4.62 and its 200-day moving average price is $5.99.
Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings results on Wednesday, June 28th. The specialty retailer reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $409.50 million during the quarter, compared to analyst estimates of $420.80 million. Pier 1 Imports had a return on equity of 13.96% and a net margin of 1.82%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, equities research analysts predict that Pier 1 Imports, Inc. will post $0.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Wednesday, July 19th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date was Monday, July 17th. Pier 1 Imports’s payout ratio is currently 68.29%.
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A number of research firms have issued reports on PIR. Morgan Stanley reduced their price target on Pier 1 Imports from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, June 30th. Deutsche Bank AG dropped their price objective on Pier 1 Imports from $6.25 to $5.00 and set a “sell” rating on the stock in a report on Wednesday, May 31st. Gordon Haskett initiated coverage on Pier 1 Imports in a report on Tuesday, May 9th. They issued a “reduce” rating and a $6.00 price objective on the stock. Johnson Rice downgraded Pier 1 Imports from an “accumulate” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Citigroup Inc. initiated coverage on Pier 1 Imports in a report on Friday, April 28th. They issued a “neutral” rating and a $7.00 price objective on the stock. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.69.
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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