KB Home $KBH Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lowered its stake in shares of KB Home (NYSE:KBH) by 34.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 690,251 shares of the construction company’s stock after selling 364,029 shares during the period. Deprince Race & Zollo Inc.’s holdings in KB Home were worth $35,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Freestone Grove Partners LP purchased a new stake in shares of KB Home in the third quarter worth about $111,050,000. Norges Bank acquired a new position in KB Home in the fourth quarter valued at approximately $48,418,000. Donald Smith & CO. Inc. lifted its holdings in KB Home by 387.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock valued at $40,919,000 after acquiring an additional 576,694 shares during the period. Goldman Sachs Group Inc. boosted its position in KB Home by 102.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock worth $52,584,000 after purchasing an additional 471,598 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in KB Home by 519.2% in the 4th quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock worth $19,954,000 after purchasing an additional 296,615 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on KBH shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. Weiss Ratings downgraded shares of KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Wells Fargo & Company raised their price target on shares of KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a research report on Wednesday, June 24th. The Goldman Sachs Group cut their price objective on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Finally, Bank of America decreased their price objective on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.17.

KB Home Stock Performance

Shares of KBH opened at $60.63 on Thursday. The stock has a 50 day moving average price of $52.30 and a 200 day moving average price of $55.95. KB Home has a one year low of $44.03 and a one year high of $68.71. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 10.53 and a beta of 1.33.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. On average, analysts predict that KB Home will post 3.25 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s dividend payout ratio (DPR) is currently 34.84%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.