RH (NYSE:RH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of RH (NYSE:RH) by 32.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,680 shares of the company’s stock after selling 16,627 shares during the period. Principal Financial Group Inc. owned approximately 0.19% of RH worth $11,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RH. Price T Rowe Associates Inc. MD boosted its holdings in RH by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock valued at $231,728,000 after acquiring an additional 62,198 shares during the period. Anomaly Capital Management LP boosted its stake in shares of RH by 503.6% in the second quarter. Anomaly Capital Management LP now owns 349,227 shares of the company’s stock valued at $85,365,000 after purchasing an additional 291,368 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of RH by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 270,993 shares of the company’s stock valued at $66,239,000 after purchasing an additional 41,242 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in RH by 8.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,810 shares of the company’s stock worth $82,206,000 after buying an additional 18,563 shares during the period. Finally, Marshall Wace LLP lifted its holdings in RH by 58.6% during the 2nd quarter. Marshall Wace LLP now owns 174,324 shares of the company’s stock worth $42,612,000 after buying an additional 64,423 shares in the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on RH shares. Barclays cut their price objective on RH from $340.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Stifel Nicolaus lifted their price objective on RH from $315.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 16th. TD Cowen boosted their price objective on RH from $325.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $290.00 target price on shares of RH in a report on Tuesday, September 10th. Finally, BNP Paribas reiterated an “underperform” rating and set a $253.00 price target on shares of RH in a report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, RH currently has a consensus rating of “Hold” and a consensus target price of $326.14.

RH Stock Performance

Shares of RH stock opened at $315.70 on Monday. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 185.71, a PEG ratio of 1.78 and a beta of 2.43. RH has a 1 year low of $212.43 and a 1 year high of $367.00. The stock’s 50-day moving average is $325.01 and its two-hundred day moving average is $283.56.

RH (NYSE:RH) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.13. RH had a net margin of 1.13% and a negative return on equity of 11.29%. The firm had revenue of $829.66 million during the quarter, compared to analysts’ expectations of $824.52 million. During the same quarter in the prior year, the business earned $3.93 EPS. RH’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts predict that RH will post 5.65 EPS for the current year.

Insider Buying and Selling at RH

In related news, Director Mark S. Demilio sold 2,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $340.30, for a total transaction of $680,600.00. Following the completion of the transaction, the director now directly owns 10,914 shares of the company’s stock, valued at $3,714,034.20. This represents a 15.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stefan Duban sold 4,285 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $346.37, for a total transaction of $1,484,195.45. Following the completion of the sale, the insider now owns 78 shares of the company’s stock, valued at approximately $27,016.86. The trade was a 98.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,285 shares of company stock worth $2,871,935. 28.10% of the stock is currently owned by insiders.

RH 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.