Bank of New York Mellon Corp Has $30.94 Million Stock Position in KB Home $KBH

Key Points

• Bank of New York Mellon reduced its KB Home position by 3.1% in the first quarter, selling 18,816 shares and retaining 597,793 shares valued at approximately $30.94 million. Institutional investors collectively own 96.09% of the company.
• Analyst sentiment remains mixed, with KB Home carrying a consensus “Hold” rating and an average price target of $60.17. Recent targets range from $52 to $77.
• KB Home’s latest quarterly earnings slightly missed estimates, while revenue fell 27.3% year over year. The company declared a quarterly dividend of $0.25 per share, equivalent to a 1.8% annual yield.

Bank of New York Mellon Corp decreased its position in shares of KB Home (NYSE:KBH - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 597,793 shares of the construction company's stock after selling 18,816 shares during the period. Bank of New York Mellon Corp owned 0.95% of KB Home worth $30,936,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of KBH. First Horizon Corp grew its stake in shares of KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company's stock worth $28,000 after acquiring an additional 322 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company's stock worth $33,000 after purchasing an additional 250 shares during the period. Fulcrum Asset Management LLP bought a new position in KB Home in the third quarter worth $36,000. Rothschild Investment LLC boosted its stake in KB Home by 391.0% during the fourth quarter. Rothschild Investment LLC now owns 820 shares of the construction company's stock worth $46,000 after buying an additional 653 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in shares of KB Home during the 3rd quarter valued at about $64,000. 96.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citizens Jmp reissued a "market outperform" rating and issued a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. Truist Financial boosted their price target on KB Home from $50.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, June 24th. Wells Fargo & Company lifted their price objective on KB Home from $50.00 to $52.00 and gave the company an "underweight" rating in a report on Wednesday, June 24th. Royal Bank Of Canada restated a "sector perform" rating and issued a $53.00 target price on shares of KB Home in a research note on Wednesday, June 24th. Finally, Barclays upped their target price on shares of KB Home from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, KB Home has a consensus rating of "Hold" and a consensus price target of $60.17.

KB Home Price Performance

KBH stock opened at $56.72 on Monday. The company has a 50 day moving average price of $54.32 and a 200 day moving average price of $55.70. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $68.71. The stock has a market capitalization of $3.48 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 9.41 and a beta of 1.34.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm's quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, equities analysts expect that KB Home will post 3.3 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. KB Home's payout ratio is currently 34.84%.

About KB Home

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.

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