KB Home (NYSE:KBH) Shares Sold by Zacks Investment Management

Zacks Investment Management lessened its stake in KB Home (NYSE:KBH) by 69.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,046 shares of the construction company’s stock after selling 16,206 shares during the quarter. Zacks Investment Management’s holdings in KB Home were worth $463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in KBH. Jones Financial Companies Lllp grew its position in KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock valued at $36,000 after acquiring an additional 214 shares during the period. Principal Securities Inc. increased its position in KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Versant Capital Management Inc raised its holdings in KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after buying an additional 557 shares during the period. Amundi lifted its position in KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company’s stock valued at $58,000 after buying an additional 201 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in KB Home during the third quarter worth approximately $59,000. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.89% of the company’s stock.

Wall Street Analysts Forecast Growth

KBH has been the topic of several recent research reports. Royal Bank of Canada reduced their target price on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Tuesday, March 25th. Barclays decreased their target price on KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. StockNews.com downgraded KB Home from a “hold” rating to a “sell” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Raymond James reissued an “outperform” rating and set a $80.00 target price (down from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.04.

KB Home Price Performance

Shares of NYSE:KBH opened at $51.59 on Friday. The company has a market cap of $3.70 billion, a PE ratio of 6.09, a P/E/G ratio of 0.90 and a beta of 1.65. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $89.70. The firm has a 50-day simple moving average of $58.97 and a 200 day simple moving average of $68.74. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the business posted $1.76 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.94%. KB Home’s payout ratio is currently 12.20%.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.