Allspring Global Investments Holdings LLC Has $63.72 Million Stock Position in RH (NYSE:RH)

Allspring Global Investments Holdings LLC reduced its position in RH (NYSE:RH) by 37.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 182,969 shares of the company’s stock after selling 108,817 shares during the period. Allspring Global Investments Holdings LLC owned about 1.00% of RH worth $63,721,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Tradition Wealth Management LLC lifted its stake in RH by 14.8% in the 4th quarter. Tradition Wealth Management LLC now owns 350 shares of the company’s stock valued at $102,000 after purchasing an additional 45 shares during the last quarter. New York Life Investment Management LLC lifted its stake in RH by 4.1% in the 4th quarter. New York Life Investment Management LLC now owns 1,703 shares of the company’s stock valued at $496,000 after purchasing an additional 67 shares during the last quarter. Global Retirement Partners LLC lifted its stake in RH by 120.3% in the 4th quarter. Global Retirement Partners LLC now owns 141 shares of the company’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management lifted its stake in RH by 1.0% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 7,706 shares of the company’s stock valued at $2,246,000 after purchasing an additional 78 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in RH during the fourth quarter worth approximately $25,000. 90.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of RH from $293.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Monday, April 1st. Loop Capital cut their price objective on shares of RH from $350.00 to $230.00 and set a “hold” rating for the company in a research report on Monday, June 17th. The Goldman Sachs Group cut their price objective on shares of RH from $264.00 to $226.00 and set a “sell” rating for the company in a research report on Monday, June 17th. JPMorgan Chase & Co. raised their price objective on shares of RH from $329.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, BNP Paribas upgraded shares of RH to a “hold” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $310.46.

RH Price Performance

Shares of NYSE:RH opened at $249.50 on Wednesday. The company’s 50 day simple moving average is $259.17 and its 200 day simple moving average is $270.10. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 69.11, a price-to-earnings-growth ratio of 0.91 and a beta of 2.42. RH has a 1 year low of $207.26 and a 1 year high of $406.38.

RH (NYSE:RH) last announced its quarterly earnings data on Thursday, June 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.32). The firm had revenue of $726.96 million during the quarter, compared to the consensus estimate of $725.15 million. RH had a net margin of 2.72% and a negative return on equity of 29.15%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $2.21 earnings per share. As a group, analysts anticipate that RH will post 8.15 EPS for the current fiscal year.

Insider Activity at RH

In related news, CEO Gary G. Friedman bought 34,200 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average price 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 in the company, valued at approximately $717,941,545. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Gary G. Friedman bought 34,200 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average price 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 in the company, valued at approximately $717,941,545. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. 28.10% of the stock is currently owned by insiders.

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.