5 Home Furnishings Stocks To Buy Ahead Of Big Holiday Season

2. Pier 1 Imports Inc (NYSE:PIR)

– Elite Investors with Long Positions (as of June 30): 19
– Aggregate Value of Elite Investors’ Holdings (as of June 30): $123.62 Million
– Percentage of Shares Owned by Elite Investors (as of June 30): 10.80%

Pier 1 Imports Inc (NYSE:PIR) lands in second place, being held by 19 elite investors in our database. Shares of Pier 1 Imports have trended downwards for much of the year, and have lost over 50% year-to-date. The latest blow came in late September when shares declined by more than 12% after the release of the company’s second quarter results for fiscal year 2016, which were negatively impacted by currency headwinds. Nonetheless, there is a lot to like about the stock, including a dividend yield of 3.70% and a forward P/E of just 10.40. Oppenheimer and Credit Agricole each reiterated their ‘Outperform’ ratings on the stock following that earnings report as well, with price targets of $15 and $14 respectively, suggesting immense upside potential. Glenn Krevlin’s Glenhill Advisors is a big believer in Pier 1 Imports Inc (NYSE:PIR), owning 3.88 million shares on June 30, accounting for 3.45% of the value of its public equity portfolio.

1. Restoration Hardware Holdings Inc (NYSE:RH)

– Elite Investors with Long Positions (as of June 30): 41
– Aggregate Value of Elite Investors’ Holdings (as of June 30): $914.26 Million
– Percentage of Shares Owned by Elite Investors (as of June 30): 23.40%

Lastly is Restoration Hardware Holdings Inc (NYSE:RH), which is easily the most popular stock in this article among the elite investors that we track. The stock became even more popular throughout the second quarter, as ownership increased by six funds by the end of the period. However, the aggregate value of their holdings did decline by about 5% during the quarter, despite shares rising slightly in value in that time. Following a turbulent two months, shares are up by about 7% in October. Tiger Global Management and Miura Global Management held the largest long positions in Restoration Hardware Holdings Inc (NYSE:RH) as of June 30 among the investors that we monitor.

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