Norges Bank Makes New $38.74 Million Investment in RH (NYSE:RH)

Norges Bank bought a new stake in RH (NYSE:RHFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 132,895 shares of the company’s stock, valued at approximately $38,736,000. Norges Bank owned approximately 0.72% of RH at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in RH. FMR LLC grew its holdings in RH by 11.5% in the 3rd quarter. FMR LLC now owns 2,143,424 shares of the company’s stock worth $566,636,000 after acquiring an additional 221,858 shares during the last quarter. Atreides Management LP increased its stake in shares of RH by 0.3% during the third quarter. Atreides Management LP now owns 1,059,872 shares of the company’s stock valued at $280,188,000 after buying an additional 3,375 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of RH by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 265,035 shares of the company’s stock valued at $77,260,000 after acquiring an additional 15,312 shares in the last quarter. Senvest Management LLC lifted its stake in RH by 19.2% in the third quarter. Senvest Management LLC now owns 237,062 shares of the company’s stock worth $62,670,000 after acquiring an additional 38,249 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in RH by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 135,789 shares of the company’s stock valued at $39,580,000 after purchasing an additional 7,334 shares during the period. Hedge funds and other institutional investors own 90.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RH shares. Telsey Advisory Group reiterated a “market perform” rating and set a $335.00 price target (up previously from $285.00) on shares of RH in a research report on Tuesday, March 26th. JPMorgan Chase & Co. increased their price objective on RH from $329.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Robert W. Baird boosted their price objective on shares of RH from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of RH in a research report on Monday, April 1st. Finally, The Goldman Sachs Group upped their price target on shares of RH from $201.00 to $264.00 and gave the stock a “sell” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, RH has an average rating of “Hold” and a consensus price target of $332.15.

View Our Latest Report on RH

Insider Buying and Selling

In other news, insider Eri Chaya sold 100,000 shares of RH stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $279.92, for a total value of $27,992,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark S. Demilio sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $288.99, for a total value of $288,990.00. Following the sale, the director now directly owns 11,991 shares in the company, valued at $3,465,279.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eri Chaya sold 100,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $279.92, for a total value of $27,992,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,000 shares of company stock worth $28,897,430. Corporate insiders own 28.10% of the company’s stock.

RH Price Performance

RH stock opened at $263.67 on Friday. The stock has a market cap of $4.84 billion, a P/E ratio of 47.34, a PEG ratio of 2.79 and a beta of 2.54. RH has a 1 year low of $207.26 and a 1 year high of $406.38. The firm’s 50 day moving average price is $273.31 and its 200-day moving average price is $273.39.

RH (NYSE:RHGet Free Report) last released its quarterly earnings results on Wednesday, March 27th. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.99). RH had a net margin of 4.21% and a negative return on equity of 777.61%. The business had revenue of $738.26 million for the quarter, compared to analysts’ expectations of $777.50 million. During the same period in the previous year, the company earned $2.88 EPS. RH’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts expect that RH will post 8.99 EPS for the current year.

About RH

(Free Report)

RH, together with its subsidiaries, operates as a retailer in the home furnishings market. The company offers products in various categories, including furniture, lighting, textiles, bathware, d├ęcor, outdoor and garden, baby, child, and teen furnishings. It provides its products through rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com online channels, as well as operates RH Galleries, RH outlet stores, RH Guesthouse, and Waterworks showrooms in the United States, Canada, the United Kingdom, and Germany.

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Institutional Ownership by Quarter for RH (NYSE:RH)

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