Principal Financial Group Inc. Cuts Stock Holdings in RH (NYSE:RH)

Principal Financial Group Inc. trimmed its holdings in shares of RH (NYSE:RH – Get Rating) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 75,634 shares of the company’s stock after selling 2,353 shares during the period. Principal Financial Group Inc.’s holdings in RH were worth $20,209,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. First Eagle Investment Management LLC boosted its position in RH by 137.1% during the fourth quarter. First Eagle Investment Management LLC now owns 13,370 shares of the company’s stock valued at $3,572,000 after buying an additional 7,730 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of RH by 11.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 11,628 shares of the company’s stock valued at $3,107,000 after acquiring an additional 1,182 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of RH during the fourth quarter valued at about $313,000. Belpointe Asset Management LLC bought a new position in shares of RH during the fourth quarter valued at about $121,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of RH by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 222,012 shares of the company’s stock valued at $59,319,000 after acquiring an additional 1,367 shares during the last quarter. 84.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on RH shares. Telsey Advisory Group lowered their price objective on shares of RH from $280.00 to $225.00 and set a “market perform” rating for the company in a research note on Thursday, March 30th. Robert W. Baird lowered their price objective on shares of RH from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, March 30th. Jefferies Financial Group lowered their price objective on shares of RH from $298.00 to $227.00 in a research note on Thursday, March 30th. Bank of America decreased their price target on shares of RH from $338.00 to $315.00 in a research note on Sunday, April 2nd. Finally, Wedbush decreased their price target on shares of RH from $335.00 to $245.00 and set a “neutral” rating for the company in a research note on Monday, March 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $281.50.

Insider Buying and Selling

In related news, Director Hilary K. Krane sold 137 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $306.54, for a total value of $41,995.98. Following the sale, the director now owns 6,115 shares in the company, valued at $1,874,492.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.90% of the stock is currently owned by corporate insiders.

RH Trading Down 1.6 %

NYSE:RH opened at $261.42 on Monday. The company’s 50 day moving average price is $248.61 and its 200-day moving average price is $273.59. RH has a 52 week low of $207.37 and a 52 week high of $351.53. The company has a quick ratio of 1.93, a current ratio of 2.84 and a debt-to-equity ratio of 3.97. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.32 and a beta of 2.08.

RH (NYSE:RH – Get Rating) last issued its earnings results on Wednesday, March 29th. The company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.35 by ($0.47). RH had a return on equity of 55.97% and a net margin of 14.72%. The company had revenue of $772.50 million during the quarter, compared to analysts’ expectations of $777.30 million. During the same quarter in the prior year, the business posted $5.66 EPS. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. On average, equities research analysts forecast that RH will post 11.35 earnings per share for the current fiscal year.

About RH

(Get Rating)

RH, together with its subsidiaries, operates as a retailer in the home furnishings. It offers products in various categories, including furniture, lighting, textiles, bathware, décor, outdoor and garden, and child and teen furnishings. The company provides its products through its retail galleries; and Source Books, a series of catalogs, as well as online through rh.com, rhbabyandchild.com, rhteen.com, and rhmodern.com, as well as waterworks.com.