Bank of New York Mellon Corp Decreases Stock Holdings in RH (NYSE:RH)

Bank of New York Mellon Corp trimmed its holdings in RH (NYSE:RHFree Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,594 shares of the company’s stock after selling 13,118 shares during the quarter. Bank of New York Mellon Corp owned about 0.57% of RH worth $24,987,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. LPL Financial LLC increased its holdings in shares of RH by 61.3% during the 4th quarter. LPL Financial LLC now owns 9,141 shares of the company’s stock worth $3,598,000 after buying an additional 3,473 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of RH by 146.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,986 shares of the company’s stock worth $934,000 after buying an additional 2,371 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of RH by 607.9% during the 4th quarter. Deutsche Bank AG now owns 9,464 shares of the company’s stock worth $3,725,000 after buying an additional 8,127 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of RH by 49.7% during the 4th quarter. Sterling Capital Management LLC now owns 762 shares of the company’s stock worth $300,000 after buying an additional 253 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of RH by 16.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,257 shares of the company’s stock worth $888,000 after buying an additional 314 shares during the last quarter. 90.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RH has been the subject of a number of recent analyst reports. Zelman & Associates cut their price target on shares of RH from $305.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, July 9th. JPMorgan Chase & Co. dropped their price target on shares of RH from $510.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Wells Fargo & Company set a $275.00 price objective on shares of RH in a research report on Friday, June 13th. Guggenheim reaffirmed a “buy” rating and set a $300.00 price objective on shares of RH in a research report on Wednesday, July 2nd. Finally, Bank of America boosted their price target on shares of RH from $144.00 to $172.00 and gave the company an “underperform” rating in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $270.35.

Get Our Latest Report on RH

RH Stock Up 0.5%

Shares of RH stock opened at $188.46 on Thursday. RH has a 52-week low of $123.03 and a 52-week high of $457.26. The company’s 50-day simple moving average is $193.67 and its 200-day simple moving average is $262.03. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 0.54 and a beta of 2.17.

RH (NYSE:RHGet Free Report) last issued its earnings results on Thursday, June 12th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.20. RH had a net margin of 2.57% and a negative return on equity of 67.71%. The company had revenue of $813.95 million for the quarter, compared to analyst estimates of $817.66 million. During the same period in the prior year, the business posted ($0.40) earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that RH will post 4.39 EPS for the current year.

About RH

(Free Report)

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.

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Institutional Ownership by Quarter for RH (NYSE:RH)

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