KB Home (NYSE:KBH) Short Interest Update

KB Home (NYSE:KBH) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 5,760,000 shares, a decline of 10.8% from the October 15th total of 6,460,000 shares. Currently, 8.1% of the shares of the stock are short sold. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 5.2 days.

Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On KB Home

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KBH. Hancock Whitney Corp increased its holdings in shares of KB Home by 311.0% in the 1st quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock worth $1,150,000 after purchasing an additional 12,273 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of KB Home during the first quarter valued at $1,078,000. Tidal Investments LLC bought a new stake in KB Home in the 1st quarter worth about $1,177,000. Comerica Bank raised its position in KB Home by 123.0% in the 1st quarter. Comerica Bank now owns 75,154 shares of the construction company’s stock worth $5,327,000 after buying an additional 41,452 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of KB Home during the first quarter valued at approximately $1,588,000. 96.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KBH shares. Royal Bank of Canada downgraded KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research report on Thursday, September 5th. Wedbush raised their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. The Goldman Sachs Group upped their price objective on shares of KB Home from $72.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Bank of America raised their target price on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, Barclays increased their price objective on KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus target price of $77.50.

KB Home Stock Down 1.6 %

Shares of KBH stock traded down $1.25 during mid-day trading on Monday, reaching $77.28. 1,009,505 shares of the company’s stock traded hands, compared to its average volume of 1,223,061. The company has a market cap of $5.67 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.67 and a beta of 1.81. The company’s 50-day moving average price is $82.02 and its 200-day moving average price is $77.27. KB Home has a 12 month low of $51.53 and a 12 month high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.80 earnings per share. Equities analysts predict that KB Home will post 8.44 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is currently 12.82%.

KB Home Company 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.