Canada Pension Plan Investment Board Has $2.543 Million Position in Pier 1 Imports Inc (PIR)

Canada Pension Plan Investment Board lowered its stake in Pier 1 Imports Inc (NYSE:PIR) by 63.7% during the first quarter, Holdings Channel reports. The firm owned 355,100 shares of the specialty retailer’s stock after selling 623,600 shares during the period. Canada Pension Plan Investment Board’s holdings in Pier 1 Imports were worth $2,543,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Pier 1 Imports during the first quarter valued at approximately $828,000. Russell Investments Group Ltd. increased its stake in shares of Pier 1 Imports by 132.2% in the first quarter. Russell Investments Group Ltd. now owns 1,116,100 shares of the specialty retailer’s stock valued at $7,991,000 after buying an additional 635,438 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Pier 1 Imports during the first quarter valued at approximately $177,000. Acadian Asset Management LLC increased its stake in shares of 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 valued at $23,149,000 after buying an additional 2,152,335 shares during the period. Finally, Nationwide Fund Advisors increased its stake in shares of Pier 1 Imports by 321.8% in the first quarter. Nationwide Fund Advisors now owns 275,386 shares of the specialty retailer’s stock valued at $1,972,000 after buying an additional 210,090 shares during the period. 83.53% of the stock is owned by institutional investors.

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

Pier 1 Imports Inc (NYSE:PIR) opened at 5.26 on Friday. The company has a market capitalization of $423.28 million, a PE ratio of 14.22 and a beta of 1.74. The firm’s 50-day moving average price is $6.70 and its 200 day moving average price is $6.91. Pier 1 Imports Inc has a 52 week low of $3.73 and a 52 week high of $9.68.

Pier 1 Imports (NYSE:PIR) last released its earnings results on Wednesday, April 12th. The specialty retailer reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. Pier 1 Imports had a return on equity of 9.68% and a net margin of 1.20%. The firm had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $529.43 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that Pier 1 Imports Inc will post $0.49 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 26th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, April 24th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.32%. Pier 1 Imports’s dividend payout ratio is currently 100.00%.

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Several brokerages have recently commented on PIR. Gordon Haskett began coverage on shares of Pier 1 Imports in a research report on Tuesday, May 9th. They set a “reduce” rating and a $6.00 price objective for the company. Citigroup Inc began coverage on shares of Pier 1 Imports in a research report on Friday, April 28th. They set a “neutral” rating and a $7.00 price objective for the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $7.25 price objective on shares of Pier 1 Imports in a research report on Tuesday, April 18th. CIBC reaffirmed a “hold” rating on shares of Pier 1 Imports in a research report on Monday, April 17th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Pier 1 Imports in a research report on Monday, April 17th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.64.

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.

12 Month Chart for NYSE:PIR

Want to see what other hedge funds are holding PIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pier 1 Imports Inc (NYSE:PIR).

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