BlackRock Amends RH Stake to 18.2% as of Dec 31, 2023

Ticker: RH · Form: SC 13G/A · Filed: 2024-01-26T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investment

TL;DR

**BlackRock still owns 18.2% of RH, showing strong institutional confidence.**

AI Summary

BlackRock Inc. has updated its ownership stake in RH (formerly Restoration Hardware Holdings Inc.), a luxury home furnishings retailer. As of December 31, 2023, BlackRock reported beneficial ownership of 3,127,992 shares of RH Common Stock, representing 18.2% of the company's outstanding shares. This is an amendment (Amendment No. 9) to their previous filings, indicating a significant, though slightly reduced, institutional holding in RH. This matters to investors because BlackRock, a major institutional investor, continues to hold a substantial portion of RH, signaling their long-term confidence in the company despite potential market fluctuations.

Why It Matters

BlackRock's continued significant ownership in RH, even with slight adjustments, suggests a sustained institutional belief in the company's value, which can influence other investors' perceptions and the stock's stability.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a floor for the stock.

Analyst Insight

A smart investor would view BlackRock's continued significant stake as a vote of confidence, suggesting long-term stability for RH, but should still conduct their own due diligence on RH's fundamentals and market conditions.

Key Numbers

3,127,992 — Shares Owned (BlackRock's total beneficial ownership in RH)
18.2% — Ownership Percentage (BlackRock's significant stake in RH)
December 31, 2023 — Reporting Date (The snapshot date for BlackRock's ownership)
9 — Amendment Number (Indicates this is the ninth update to BlackRock's filing for RH)

Key Players & Entities

BlackRock Inc. (company) — the reporting person and institutional investor
RH (company) — the subject company, a luxury home furnishings retailer
Restoration Hardware Holdings Inc. (company) — RH's former name
3,127,992 (dollar_amount) — number of shares beneficially owned by BlackRock
18.2% (dollar_amount) — percentage of RH's class of securities beneficially owned by BlackRock
December 31, 2023 (date) — date of the event requiring the filing

Forward-Looking Statements

BlackRock will maintain a significant, albeit potentially fluctuating, stake in RH over the next year. (BlackRock Inc.) — high confidence, target: December 31, 2024
RH's stock price will likely experience less volatility due to BlackRock's substantial, stable institutional ownership. (RH) — medium confidence, target: June 30, 2024

FAQ

What is the primary purpose of this SC 13G/A filing?

This SC 13G/A filing is an amendment (Amendment No. 9) by BlackRock Inc. to update its beneficial ownership of RH Common Stock as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.

How many shares of RH Common Stock does BlackRock Inc. beneficially own according to this filing?

BlackRock Inc. beneficially owns 3,127,992 shares of RH Common Stock, as stated in the filing for the event date of December 31, 2023.

What percentage of RH's outstanding shares does BlackRock Inc.'s ownership represent?

BlackRock Inc.'s beneficial ownership of 3,127,992 shares represents 18.2% of RH's class of securities, according to the filing.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.

Under which rule is this Schedule 13G filed?

This Schedule 13G is filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box on the cover page of the filing.

From the Filing

0001086364-24-004633.txt : 20240126 0001086364-24-004633.hdr.sgml : 20240126 20240126162345 ACCESSION NUMBER: 0001086364-24-004633 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: RH CENTRAL INDEX KEY: 0001528849 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FURNITURE STORES [5712] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 453052669 STATE OF INCORPORATION: DE FISCAL YEAR END: 0203 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87304 FILM NUMBER: 24568164 BUSINESS ADDRESS: STREET 1: 15 KOCH ROAD STREET 2: SUITE K CITY: CORTE MADERA STATE: CA ZIP: 94925 BUSINESS PHONE: 415-924-1005 MAIL ADDRESS: STREET 1: 15 KOCH ROAD STREET 2: SUITE K CITY: CORTE MADERA STATE: CA ZIP: 94925 FORMER COMPANY: FORMER CONFORMED NAME: Restoration Hardware Holdings Inc DATE OF NAME CHANGE: 20110830 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us74967x1037_012624.txt us74967x1037_012624.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 9) RH -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 74967X103 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 74967X103 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 1287315 (6) Shared voting power 0 (7) Sole dispositive power 1328490 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 1328490 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.3% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- RH Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 15 KOCH ROAD, SUITE K CORTE MADERA CA 94925 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principa