First Hawaiian Bank Boosts Stock Holdings in RH (NYSE:RH)

First Hawaiian Bank lifted its holdings in RH (NYSE:RH) by 116.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,718 shares of the company’s stock after buying an additional 3,073 shares during the period. First Hawaiian Bank’s holdings in RH were worth $1,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RH. Price T Rowe Associates Inc. MD raised its stake in RH by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 665,383 shares of the company’s stock worth $231,728,000 after purchasing an additional 62,198 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of RH by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 265,035 shares of the company’s stock worth $77,260,000 after purchasing an additional 15,312 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of RH by 5.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 135,789 shares of the company’s stock worth $39,580,000 after purchasing an additional 7,334 shares during the period. Norges Bank acquired a new stake in shares of RH during the 4th quarter worth about $38,736,000. Finally, Victory Capital Management Inc. raised its holdings in RH by 56.7% in the 4th quarter. Victory Capital Management Inc. now owns 117,523 shares of the company’s stock valued at $34,256,000 after buying an additional 42,509 shares during the period. 90.17% of the stock is currently owned by institutional investors and hedge funds.

RH Trading Up 3.0 %

Shares of NYSE RH traded up $7.43 during mid-day trading on Tuesday, reaching $254.79. The company had a trading volume of 274,014 shares, compared to its average volume of 721,360. The firm has a 50 day simple moving average of $256.83 and a two-hundred day simple moving average of $266.89. RH has a 52-week low of $207.26 and a 52-week high of $405.55. The stock has a market cap of $4.70 billion, a P/E ratio of 69.25, a PEG ratio of 0.99 and a beta of 2.42.

RH (NYSE:RH) last released its quarterly earnings results 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). RH had a negative return on equity of 29.15% and a net margin of 2.72%. The company had revenue of $726.96 million for the quarter, compared to analysts’ expectations of $725.15 million. During the same period in the prior year, the business earned $2.21 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts expect that RH will post 7.91 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RH shares. Morgan Stanley dropped their price target on shares of RH from $320.00 to $300.00 and set an “equal weight” rating for the company in a research report on Monday, June 17th. Robert W. Baird cut their target price on RH from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company dropped their price objective on RH from $360.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Telsey Advisory Group decreased their target price on RH from $320.00 to $290.00 and set a “market perform” rating on the stock in a research note on Friday, June 14th. Finally, The Goldman Sachs Group dropped their target price on RH from $264.00 to $226.00 and set a “sell” rating for the company in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $310.79.

Insiders Place Their Bets

In other RH news, CEO Gary G. Friedman purchased 34,200 shares of the stock in a transaction on Tuesday, June 25th. The stock was bought at an average price of $215.00 per share, for a total transaction of $7,353,000.00. Following the acquisition, the chief executive officer now directly owns 3,339,263 shares of the company’s stock, valued at $717,941,545. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 28.10% of the stock is owned by corporate 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.