State of New Jersey Common Pension Fund D Sells 3,553 Shares of RH (NYSE:RH)

State of New Jersey Common Pension Fund D reduced its position in RH (NYSE:RH) by 32.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,422 shares of the company’s stock after selling 3,553 shares during the period. State of New Jersey Common Pension Fund D’s holdings in RH were worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RH. Creekmur Asset Management LLC acquired a new position in RH during the 4th quarter valued at about $25,000. Quest Partners LLC purchased a new position in shares of RH in the 4th quarter valued at approximately $37,000. Hollencrest Capital Management acquired a new stake in RH in the 1st quarter worth approximately $47,000. Ridgewood Investments LLC purchased a new stake in RH during the 2nd quarter worth approximately $62,000. Finally, Tradition Wealth Management LLC increased its stake in RH by 14.8% during 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 in the last quarter. Hedge funds and other institutional investors own 90.17% of the company’s stock.

RH Price Performance

Shares of RH stock opened at $345.53 on Tuesday. RH has a 1-year low of $207.26 and a 1-year high of $354.86. The stock has a market cap of $6.37 billion, a P/E ratio of 95.71, a P/E/G ratio of 1.70 and a beta of 2.42. The stock’s 50 day simple moving average is $273.42 and its 200-day simple moving average is $269.14.

RH (NYSE:RH) last released its quarterly earnings results on Thursday, September 12th. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.56 by $0.13. The firm had revenue of $829.66 million for the quarter, compared to analyst estimates of $824.52 million. RH had a net margin of 1.13% and a negative return on equity of 11.29%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.93 EPS. As a group, research analysts expect that RH will post 6.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Stefan Duban sold 4,285 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $346.37, for a total value of $1,484,195.45. Following the completion of the transaction, the insider now owns 78 shares of the company’s stock, valued at $27,016.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other RH news, insider Stefan Duban sold 4,285 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $346.37, for a total value of $1,484,195.45. Following the sale, the insider now owns 78 shares of the company’s stock, valued at approximately $27,016.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark S. Demilio sold 2,000 shares of RH stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $340.30, for a total value of $680,600.00. Following the completion of the transaction, the director now owns 10,914 shares of the company’s stock, valued at approximately $3,714,034.20. The disclosure for this sale can be found here. 28.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RH has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on RH from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Bank of America increased their price target on shares of RH from $310.00 to $359.00 and gave the stock a “buy” rating in a report on Friday, September 13th. BNP Paribas raised shares of RH to a “hold” rating in a report on Friday, June 14th. TD Cowen raised their target price on shares of RH from $325.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, The Goldman Sachs Group decreased their target price 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $322.54.

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.