|Day's Range||9.20 - 9.20|
Berkshire Hathaway's third quarter holding are out. The company announced it has taken a $210M stake in RH while trimming its stake in Wells Fargo. Yahoo Finance's Julia La Roche joins The Final Round.
Berkshire Hathaway disclosed Thursday that it bought a 1.2-million-share stake in luxury furniture retailer RH, formerly known as Restoration Hardware, during the third quarter, sending the Corte Madera retailer’s shares up 7% in after-hours trading. Berkshire, led by legendary investor Warren Buffett, also trimmed his stakes in Apple and Wells Fargo. Buffett has been steadily selling some of Berkshire’s Wells Fargo shares to keep its stake under 10 percent for regulatory reasons as the bank buys back stock.
The conglomerate led by Warren Buffett revealed new stakes in two companies, according to a filing on Tuesday.
Berkshire Hathaway Inc. revealed new stakes in furniture maker RH and energy company Occidental Petroleum Corp. , according to a filing on Thursday. The conglomerate led by legendary investor Warren Buffett owned about 1.2 million shares of RH, formerly known as Restoration Hardware, and nearly 7.5 million shares of Occidental. It trimmed stakes in Apple Inc. and Wells Fargo , among other companies. In April, Berkshire committed $10 billion to help Occidental's bid for Anadarko Petroleum Corp. , giving Occidental an edge over Chevron Corp , which was also vying for Anadarko and later bowed out. Shares of RH rallied more than 6% in the extended session, while Occidental stock rose 1.6%.
An investment by Warren Buffett’s Berkshire Hathaway boosted shares in upmarket furniture retailer RH, representing one of the most notable purchases by investment managers in the third quarter. Berkshire Hathaway acquired 1.2m shares in RH, previously known as Restoration Hardware. The filing came among the periodic deluge of 13F filings on Thursday, as investment managers revealed their purchases and sales for the third quarter.
Strong core RH business, solid performance of new galleries and continuous expansion of RH Hospitality are likely to help RH to grow further.
Walmart is in buy range while top retail stocks Lululemon Athletica, Costco, RH and Burlington Stores are near buy zones as retailers get ready for a busy holiday season.
RH, formerly Restoration Hardware, has had quite a run since its big revamp two years ago. RH stock is up over 100% since May. Can it keep going?
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