People s United Financial Inc. Sells 1,430 Shares of Pier 1 Imports, Inc. (PIR)
People s United Financial Inc. lowered its stake in Pier 1 Imports, Inc. (NYSE:PIR) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 195,687 shares of the specialty retailer’s stock after selling 1,430 shares during the quarter. People s United Financial Inc. owned 0.24% of Pier 1 Imports worth $1,015,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new stake in shares of Pier 1 Imports during the second quarter valued at approximately $103,000. Jane Street Group LLC grew its holdings in shares of Pier 1 Imports by 29.0% in the first quarter. Jane Street Group LLC now owns 21,562 shares of the specialty retailer’s stock worth $154,000 after purchasing an additional 4,853 shares during the last quarter. Airain ltd purchased a new position in shares of Pier 1 Imports in the first quarter worth $159,000. Koch Industries Inc. purchased a new position in shares of Pier 1 Imports in the first quarter worth $171,000. Finally, Eagle Global Advisors LLC purchased a new position in shares of Pier 1 Imports in the second quarter worth $175,000. 82.76% of the stock is owned by hedge funds and other institutional investors.
Shares of Pier 1 Imports, Inc. (NYSE:PIR) opened at 4.38 on Wednesday. The stock has a market capitalization of $355.13 million, a PE ratio of 10.92 and a beta of 1.69. Pier 1 Imports, Inc. has a 52 week low of $3.96 and a 52 week high of $9.68. The company has a 50-day moving average price of $4.31 and a 200 day moving average price of $5.36.
Pier 1 Imports (NYSE:PIR) last posted its quarterly earnings results on Wednesday, September 27th. The specialty retailer reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $407.61 million during the quarter, compared to the consensus estimate 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 revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities analysts forecast that Pier 1 Imports, Inc. will post $0.41 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.28 annualized dividend and a yield of 6.39%. Pier 1 Imports’s dividend payout ratio (DPR) is currently 77.78%.
Several brokerages have weighed in on PIR. Telsey Advisory Group dropped their price target on shares of Pier 1 Imports from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Thursday, June 29th. Loop Capital decreased their price objective on shares of Pier 1 Imports from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research report on Saturday. Johnson Rice downgraded shares of Pier 1 Imports from an “accumulate” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, BidaskClub downgraded shares of Pier 1 Imports from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Pier 1 Imports currently has a consensus rating of “Hold” and a consensus price target of $5.09.
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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