KB Home (KBH) Lowered to Sell at ValuEngine
ValuEngine cut shares of KB Home (NYSE:KBH) from a hold rating to a sell rating in a report published on Tuesday morning.
Several other equities research analysts also recently weighed in on KBH. Zacks Investment Research downgraded KB Home from a buy rating to a hold rating in a report on Monday, June 11th. Barclays raised KB Home from an underweight rating to an equal weight rating in a report on Friday, June 29th. Wedbush lowered their price target on KB Home from $33.00 to $29.00 and set a neutral rating for the company in a report on Friday, June 29th. Bank of America raised KB Home from an underperform rating to a buy rating and raised their price target for the stock from $32.00 to $37.00 in a report on Friday, June 29th. Finally, Credit Suisse Group lowered their price target on KB Home from $32.00 to $29.00 and set a neutral rating for the company in a report on Friday, June 29th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. KB Home presently has an average rating of Hold and a consensus price target of $31.00.
Shares of NYSE KBH opened at $24.79 on Tuesday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.50 and a beta of 1.38. KB Home has a fifty-two week low of $20.68 and a fifty-two week high of $38.80.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Investors of record on Thursday, August 2nd were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Wednesday, August 1st. KB Home’s dividend payout ratio (DPR) is 5.41%.
In related news, CEO Jeffrey T. Mezger sold 100,000 shares of KB Home stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $23.56, for a total transaction of $2,356,000.00. Following the completion of the sale, the chief executive officer now owns 861,287 shares of the company’s stock, valued at $20,291,921.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey T. Mezger sold 272,818 shares of KB Home stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $23.39, for a total value of $6,381,213.02. Following the sale, the insider now directly owns 861,287 shares of the company’s stock, valued at approximately $20,145,502.93. The disclosure for this sale can be found here. Insiders have sold 497,818 shares of company stock valued at $11,752,213 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund lifted its holdings in KB Home by 1.3% in the first quarter. New York State Common Retirement Fund now owns 171,413 shares of the construction company’s stock valued at $4,877,000 after acquiring an additional 2,228 shares during the period. OppenheimerFunds Inc. lifted its holdings in KB Home by 5.0% in the second quarter. OppenheimerFunds Inc. now owns 48,051 shares of the construction company’s stock valued at $1,309,000 after acquiring an additional 2,298 shares during the period. Mutual of America Capital Management LLC lifted its holdings in KB Home by 3.9% in the second quarter. Mutual of America Capital Management LLC now owns 72,138 shares of the construction company’s stock valued at $1,965,000 after acquiring an additional 2,696 shares during the period. CIBC World Markets Inc. lifted its holdings in KB Home by 1.5% in the second quarter. CIBC World Markets Inc. now owns 194,357 shares of the construction company’s stock valued at $5,294,000 after acquiring an additional 2,828 shares during the period. Finally, Zacks Investment Management lifted its holdings in KB Home by 5.3% in the second quarter. Zacks Investment Management now owns 56,337 shares of the construction company’s stock valued at $1,535,000 after acquiring an additional 2,831 shares during the period. 85.38% of the stock is owned by hedge funds and other institutional investors.
About KB Home
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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