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Pier 1 Imports (PIR) has 3 splits in our PIR split history database. The first split for PIR took place on July 31, 1997. This was a 3 for 2 split, meaning for each 2 shares of PIR owned pre-split, the shareholder now owned 3 shares. For example, a 1000 share position pre-split, became a 1500 share position following the split. PIR's second split took place on July 30, 1998. This was a 3 for 2 split, meaning for each 2 shares of PIR owned pre-split, the shareholder now owned 3 shares. For example, a 1500 share position pre-split, became a 2250 share position following the split. PIR's third split took place on June 20, 2019. This was a 1 for 20 reverse split, meaning for each 20 shares of PIR owned pre-split, the shareholder now owned 1 share. For example, a 2250 share position pre-split, became a 112.5 share position following the split.
When a company such as Pier 1 Imports splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Pier 1 Imports conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the PIR split history from start to finish, an original position size of 1000 shares would have turned into 112.5 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Pier 1 Imports shares, starting with a $10,000 purchase of PIR, presented on a split-history-adjusted basis factoring in the complete PIR split history.
Growth of $10,000.00
With Dividends Reinvested
|Average Annual Total Return:||-28.74%|
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-12.61%|
|About Pier 1 Imports|
|Pier 1 Imports is an omni-channel retailer of home decor and accessories. Co.'s products are available in retail stores throughout the U.S. and Canada and online at pier1.com. Co. directly imports merchandise from many countries, and sells a variety of decorative accessories, furniture, candles, housewares, gifts and seasonal products. Additionally, Co. has an arrangement to supply merchandise to be sold in store within a store locations in Mexico and El Salvador and online in Mexico that are operated by Sears Operadora de Mexico, S.A. de C.V. and Corporacion de Tiendas Internationales, S.A. de C.V., respectively. According to our PIR split history records, Pier 1 Imports has had 3 splits.|
|PIR Split History Table|
|07/31/1997||3 for 2|
|07/30/1998||3 for 2|
|06/20/2019||1 for 20|
|Services Stock Splits|
|PIR is categorized under the Services sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: PIR shares outstanding history