Catering equipment shareholders | Who owns the HR action?

Restoration Hardware is a furniture and home decor store – Andriy Blokhin / Shutterstock

Catering equipment (HR) the stock has racked up a 51.2% loss since the start of 2022. Difficult macroeconomic conditions in the United States have led to “weaker-than-expected demand”, according to RH CEO Gary Friedman.

The head of the luxury home furnishings retailer cited higher mortgage rates and a decline in luxury home sales as some of the headwinds facing the business.

Who suffered most of these losses? In this article, we share more details about the owner of the restoration hardware.

What is Restoration Material (RH)?

Restoration Hardware sells furniture, home decor, and other similar items in the United States. At the end of July 2022, the company operated 67 galleries, 39 outlets and 14 aqueduct showrooms.

The company has undergone several changes to its business model, including a rebranding process aimed at positioning the retailer as a premium provider of furniture products.

In the first half of fiscal 2022, the company generated total revenue of $1.95 billion and net profit of $323 million. Meanwhile, RH employed 6,500 associates at the end of January 2022.

In 2012, the company went public for the second time, under the ticker symbol RH. Over the past 10 years, the Restoration Hardware stock has gained 741.5%. Over the same period, the technology-heavy S&P 500 (US500) and Nasdaq 100 (US100) indices produced returns of 183.3% and 363.9%, respectively.

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Who owns the HR shares?

According to Restoration Hardware’s most recent annual report filed with the United States Securities and Exchange Commission (SEC), 15 registered shareholders held the company’s common stock as of January 29, 2022. This number excludes anyone holding stock through the through a brokerage firm.

Who owns the most HR shares? According to data from Market Screener, Restoration Hardware’s five largest individual shareholders are Warren Buffett’s conglomerate Berkshire Hathaway (BRKb), Catterton Management, Tiger Global Management, iBarrow Hanley Global Investors and Lone Pine Capital.

Friedman owns 2.98 million shares. This gives him control of 12.1% of the voting rights.

Catterton is the largest of all uninitiated shareholders, with 4.53 million shares (a stake of 18.4%), followed by Tiger Global Management, with 3.19 million shares (a stake of 12. 9%).

Berkshire Hathaway owns 2.17 million HR shares, or an 8.8% stake, while Barrow Hanley owns 1.94 million shares, or a 7.9% stake.

All RH shares are voting, which means that Restoration Hardware shareholders have a say in the affairs of the company based on the proportion of ownership they hold in the company.

People who buy Restoration Hardware stock through brokers appoint them as proxies, which means the broker can vote on their behalf. However, they can also choose to vote on key corporate decisions at Restoration Hardware shareholder meetings.

Institutional catering equipment shareholders

Who owns the most HR shares? Here is a list of the company’s major shareholders, according to Market Screener data, as of September 8, 2022.

Catterton Management Co. – 18.4%

Catterton Management is an investment fund specializing in consumer brands. The firm oversees $30 billion in assets and has made more than 250 investments since its inception in 1979.

In 2008, Catterton partnered with Gary Friedman, the current CEO of RH, to acquire Restoration Hardware for $4.50 per share in cash.

Global Tiger Management – ​​12.9%

Tiger Global Management is both a hedge fund and a private equity firm.

The company’s public equity arm adopts techniques such as fundamental analysis and other similar approaches to investing in high-quality, seemingly undervalued companies led by outstanding management teams. The private equity arm identifies companies with untapped potential, acquires them to improve their performance and exit the investment at a profit. Tiger Global oversees assets of over $100 billion.

Berkshire Hathaway – 8.8%

Berkshire Hathaway (BKRb) is a business conglomerate led by Warren Buffett. The so-called “Oracle of Omaha” is known for its outstanding track record of successful investments.

Buffet bought a stake in RH in 2019 – two years after the company rebranded. Berkshire initially bought 1.2 million shares in the luxury home furnishings retailer and gradually increased its stake to 2.17 million.

Barrow, Hanley, Mewhinney & Strauss LLC – 7.9%

Barrow Hanley Global Investors is an investment management firm that manages a portfolio of equity and fixed income instruments.

The fund follows the principles of value investing to identify opportunities in financial markets. The company reportedly manages over $40 billion in assets for its clients and is owned by Perpetual Limited, an Australian financial services company.

Lone Pine Capital – 7.2%

Lone Pine Capital is a hedge fund led by billionaire investor Stephen Mandel. The fund uses long/short and long-only strategies to take advantage of different types of market opportunities and reportedly manages over $10 billion in assets for its investors. Lone Capital accumulated HR shares in 2021 a few years after Buffett revealed his position in the company.

Restoration Hardware Stock Owners Among Insiders

The following people are considered top Restoration Hardware shareholders among company insiders according to data from GuruFocus. This list includes key company executives and board members.

  • Gary Friedman – 2.98 million shares

  • Eri Chaya – 63,643 shares

  • Carlos Alberini – 45,982 shares

Data from GuruFocus indicates that insiders own approximately 13.2% of all outstanding common stock of Restoration Hardware, including Friedman, who owns 12.2% of the company.

These shares are usually granted to insiders by the company via stock options as part of their overall compensation. However, in Friedman’s case, he bought most of the shares in 2008 when he partnered with Catterton to take the company private.

Gary Friedman

Friedman is CEO and Chairman of the Board of RH. He was appointed chairman in March 2005, remaining in that position until June 2008. He led the takeover operation alongside Catterton Management and was named CEO of the company. Prior to joining RH, Friedman served as a senior executive at Williams-Sonoma, an American publicly traded retail company that sells cookware and home furnishings. Forbes reports that Friedman’s net worth is around $1.3 billion.

Eri Chaya

Eri Chaya is President of HR, Chief Creative Officer and Chief Merchandising Officer. His job is to direct all activities related to brand development and product design. She joined the company in 2006, after serving as creative director for Goodby and Banana Republic.

Carlos Alberini

A member of the HR board, Alberini was the company’s co-chief executive, sharing the role with Friedman. Prior to joining the ranks of HR, he held several key positions at Guess, including COO and CFO.

Who owns ownership of a stock shouldn’t be the sole reason for making investment or trading decisions. Your decisions should depend on your goals, risk tolerance and portfolio size. Remember that it is important to do your own research before trading. And never trade money you can’t afford to lose.

FAQs

Is the catering equipment listed on the stock exchange?

Yes. Restoration Hardware is a publicly traded company listed on the New York Stock Exchange (NYSE) under the symbol RH.

Who is Restoration Hardware’s main shareholder?

As of September 9, 2022, Catterton Management Co. is the largest shareholder, with 4.53 million shares, representing an 18.4% stake in the company. Catterton partnered with Friedman in 2008 to take the company private.

Will the stock of HR increase?

No one knows what the price of a financial instrument will do. Investors should perform adequate due diligence on an asset before investing.

We recommend that you always do your own research. See the latest market trends, news, technical and fundamental price analysis and expert opinion before making an investment decision. Keep in mind that past performance does not guarantee future returns. And never invest money you can’t afford to lose.

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