RH (NYSE:RH) Stake Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of RH (NYSE:RH - Free Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,594 shares of the company's stock after selling 13,118 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.57% of RH worth $24,987,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in RH. Alliancebernstein L.P. raised its position in shares of 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 acquiring an additional 346,050 shares in the last quarter. Norges Bank bought a new stake in RH during the fourth quarter valued at $54,314,000. Raymond James Financial Inc. acquired a new stake in shares of RH during the fourth quarter worth $52,190,000. Freestone Grove Partners LP bought a new position in shares of RH in the 4th quarter worth about $44,744,000. Finally, American Century Companies Inc. lifted its position 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 worth $41,603,000 after buying an additional 101,160 shares during the last quarter. 90.17% of the stock is owned by institutional investors and hedge funds.

RH Trading Down 0.5%

RH stock traded down $1.03 during trading hours on Friday, hitting $195.73. 677,935 shares of the stock traded hands, compared to its average volume of 1,056,845. The stock has a 50-day simple moving average of $193.68 and a 200 day simple moving average of $260.67. The company has a market cap of $3.67 billion, a P/E ratio of 46.60, a P/E/G ratio of 0.55 and a beta of 2.17. RH has a one year low of $123.03 and a one year high of $457.26.

RH (NYSE:RH - Get Free Report) last posted its quarterly earnings data on Thursday, June 12th. The company reported $0.13 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $817.66 million. During the same quarter last year, the firm posted ($0.40) EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Analysts forecast that RH will post 4.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RH shares. Wedbush dropped their price objective on shares of RH from $500.00 to $350.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird boosted their price objective on RH from $215.00 to $230.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Citigroup restated a "neutral" rating and set a $200.00 price objective (down from $437.00) on shares of RH in a research note on Thursday, April 3rd. UBS Group cut their target price on RH from $235.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, June 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of RH from $510.00 to $250.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.