Principal Financial Group Inc. Has $8.15 Million Holdings in RH (NYSE:RH)

Principal Financial Group Inc. lifted its stake in RH (NYSE:RH) by 1.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 34,757 shares of the company’s stock after buying an additional 354 shares during the quarter. Principal Financial Group Inc.’s holdings in RH were worth $8,147,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Alliancebernstein L.P. increased its holdings in RH by 1,960.8% during the 4th quarter. Alliancebernstein L.P. now owns 363,698 shares of the company’s stock valued at $143,148,000 after purchasing an additional 346,050 shares in the last quarter. Norges Bank acquired a new stake in shares of RH in the 4th quarter valued at $54,314,000. Raymond James Financial Inc. acquired a new stake in shares of RH in the 4th quarter valued at $52,190,000. Freestone Grove Partners LP acquired a new stake in shares of RH in the 4th quarter valued at $44,744,000. Finally, American Century Companies Inc. increased its stake in shares of RH by 2,227.7% in the 4th quarter. American Century Companies Inc. now owns 105,701 shares of the company’s stock valued at $41,603,000 after buying an additional 101,160 shares during the period. 90.17% of the stock is owned by institutional investors and hedge funds.

RH Stock Down 7.5%

Shares of NYSE:RH opened at $187.79 on Wednesday. RH has a 12-month low of $123.03 and a 12-month high of $457.26. The stock has a market cap of $3.52 billion, a PE ratio of 44.71, a P/E/G ratio of 0.59 and a beta of 2.17. The business has a 50 day moving average of $193.68 and a 200-day moving average of $262.54.

RH (NYSE:RH) last issued its quarterly earnings data on Thursday, June 12th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.20. RH had a negative return on equity of 67.71% and a net margin of 2.57%. The company had revenue of $813.95 million during the quarter, compared to analysts’ expectations of $817.66 million. During the same quarter in the previous year, the company posted ($0.40) earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. Equities research analysts expect that RH will post 4.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RH shares. JPMorgan Chase & Co. lowered their target price on RH from $510.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Stifel Nicolaus reduced their price target on RH from $450.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Loop Capital reduced their price target on RH from $450.00 to $190.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. Telsey Advisory Group reduced their price target on RH from $280.00 to $255.00 and set an “outperform” rating on the stock in a research report on Monday, June 9th. Finally, Guggenheim restated a “buy” rating and issued a $300.00 price target on shares of RH in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $270.35.

About RH

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.