Norges Bank Acquires New Holdings in RH (NYSE:RH)

Norges Bank bought a new position in shares of RH (NYSE:RH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 137,997 shares of the company’s stock, valued at approximately $54,314,000. Norges Bank owned about 0.74% of RH at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of RH by 7,000.0% during the fourth quarter. Versant Capital Management Inc now owns 71 shares of the company’s stock worth $28,000 after acquiring an additional 70 shares during the last quarter. UMB Bank n.a. increased its position in RH by 125.8% during the 4th quarter. UMB Bank n.a. now owns 70 shares of the company’s stock valued at $28,000 after purchasing an additional 39 shares during the period. GAMMA Investing LLC raised its holdings in RH by 533.3% during the 4th quarter. GAMMA Investing LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 64 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of RH by 180.0% in the 4th quarter. Rakuten Securities Inc. now owns 112 shares of the company’s stock worth $44,000 after purchasing an additional 72 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of RH in the 4th quarter valued at $68,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at RH

In other RH news, CAO Christina Hargarten sold 5,280 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $447.20, for a total value of $2,361,216.00. Following the completion of the transaction, the chief accounting officer now owns 484 shares in the company, valued at $216,444.80. This represents a 91.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eri Chaya sold 25,000 shares of RH stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $450.45, for a total value of $11,261,250.00. The disclosure for this sale can be found here. Insiders have sold 66,380 shares of company stock valued at $28,922,379 over the last ninety days. Corporate insiders own 28.10% of the company’s stock.

RH Stock Performance

Shares of RH opened at $145.37 on Friday. RH has a 52 week low of $123.03 and a 52 week high of $457.26. The stock has a 50 day moving average price of $312.06 and a two-hundred day moving average price of $348.23. The firm has a market capitalization of $2.70 billion, a P/E ratio of 41.77, a P/E/G ratio of 2.65 and a beta of 2.44.

RH (NYSE:RH) last released its quarterly earnings results on Wednesday, April 2nd. The company reported $1.58 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.33). The company had revenue of $812.41 million during the quarter, compared to analysts’ expectations of $828.21 million. RH had a net margin of 2.25% and a negative return on equity of 35.72%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. On average, equities analysts forecast that RH will post 4.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RH shares. Robert W. Baird lowered their target price on shares of RH from $400.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday. Morgan Stanley cut their target price on RH from $530.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday. Loop Capital lowered their target price on RH from $450.00 to $190.00 and set a “hold” rating for the company in a report on Friday. Citigroup restated a “neutral” rating and set a $200.00 price target (down from $437.00) on shares of RH in a report on Thursday. Finally, Barclays dropped their target price on shares of RH from $515.00 to $436.00 and set an “overweight” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $293.81.

RH Company Profile

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, décor, 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.