Public Employees Retirement Association of Colorado Decreases Stock Position in RH (NYSE:RH)

Public Employees Retirement Association of Colorado cut its position in RH (NYSE:RH) by 14.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,681 shares of the company’s stock after selling 278 shares during the period. Public Employees Retirement Association of Colorado’s holdings in RH were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Bamco Inc. NY increased its holdings in shares of RH by 128.3% in the first quarter. Bamco Inc. NY now owns 94,998 shares of the company’s stock valued at $33,084,000 after purchasing an additional 53,395 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of RH by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after purchasing an additional 62,198 shares during the period. Lazard Asset Management LLC grew its holdings in RH by 68.7% during the first quarter. Lazard Asset Management LLC now owns 13,660 shares of the company’s stock worth $4,757,000 after acquiring an additional 5,565 shares during the period. Senator Investment Group LP grew its holdings in RH by 22.0% during the first quarter. Senator Investment Group LP now owns 61,000 shares of the company’s stock worth $21,244,000 after acquiring an additional 11,000 shares during the period. Finally, Seven Eight Capital LP grew its holdings in RH by 196.5% during the first quarter. Seven Eight Capital LP now owns 7,117 shares of the company’s stock worth $2,479,000 after acquiring an additional 4,717 shares during the period. 90.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gary G. Friedman acquired 34,200 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the purchase, the chief executive officer now owns 3,339,263 shares of the company’s stock, valued at approximately $717,941,545. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Eri Chaya sold 100,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $279.92, for a total transaction of $27,992,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary G. Friedman bought 34,200 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were bought at an average cost of $215.00 per share, with a total value of $7,353,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,339,263 shares in the company, valued at $717,941,545. The disclosure for this purchase can be found here. Insiders own 28.10% of the company’s stock.

Analyst Ratings Changes

RH has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on RH in a report on Tuesday, July 9th. They set a “buy” rating and a $315.00 target price on the stock. Loop Capital dropped their price objective on RH from $350.00 to $230.00 and set a “hold” rating on the stock in a report on Monday, June 17th. Morgan Stanley dropped their price objective on RH from $320.00 to $300.00 and set an “equal weight” rating on the stock in a report on Monday, June 17th. The Goldman Sachs Group dropped their price objective on RH from $264.00 to $226.00 and set a “sell” rating on the stock in a report on Monday, June 17th. Finally, Wedbush dropped their price objective on RH from $320.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $310.79.

RH Stock Performance

Shares of RH stock opened at $275.92 on Friday. RH has a one year low of $207.26 and a one year high of $406.38. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 76.43, a PEG ratio of 1.11 and a beta of 2.42. The business’s 50 day moving average price is $256.93 and its 200 day moving average price is $266.87.

RH (NYSE:RH) last posted its earnings results on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.32). The business had revenue of $726.96 million for the quarter, compared to analyst estimates of $725.15 million. RH had a negative return on equity of 29.15% and a net margin of 2.72%. RH’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. On average, analysts predict that RH will post 7.91 EPS for the current fiscal year.

About RH

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.