Dimensional Fund Advisors LP Sells 47,994 Shares of KB Home $KBH

Key Points

• Dimensional Fund Advisors reduced its KB Home stake by 2%, selling 47,994 shares during the first quarter but retaining 2.31 million shares worth approximately $119.6 million. Institutional investors collectively own 96.09% of the company.
• KB Home’s latest quarterly results showed EPS of $0.43, slightly below estimates, while revenue reached $1.11 billion but declined 27.3% year over year. Analysts expect full-year EPS of approximately $3.30.
• The company declared a quarterly dividend of $0.25 per share, implying a 1.7% yield, while analysts maintain a consensus “Hold” rating and an average price target of $60.17.

Dimensional Fund Advisors LP lessened its stake in KB Home (NYSE:KBH - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,310,462 shares of the construction company's stock after selling 47,994 shares during the quarter. Dimensional Fund Advisors LP owned 3.69% of KB Home worth $119,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of KBH. State Street Corp raised its holdings in KB Home by 3.1% in the second quarter. State Street Corp now owns 3,503,159 shares of the construction company's stock worth $185,562,000 after buying an additional 106,926 shares during the last quarter. Freestone Grove Partners LP bought a new position in shares of KB Home during the third quarter valued at $111,050,000. Invesco Ltd. boosted its position in shares of KB Home by 1.4% during the third quarter. Invesco Ltd. now owns 1,400,892 shares of the construction company's stock valued at $89,153,000 after buying an additional 19,330 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of KB Home by 13.1% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company's stock valued at $59,472,000 after buying an additional 122,457 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in KB Home by 36.4% in the 3rd quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company's stock worth $65,758,000 after buying an additional 275,965 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

KB Home Stock Up 1.6%

KB Home stock opened at $57.65 on Tuesday. The business has a 50-day simple moving average of $54.56 and a two-hundred day simple moving average of $55.70. The company has a market cap of $3.53 billion, a P/E ratio of 20.09, a P/E/G ratio of 9.41 and a beta of 1.34. KB Home has a 52-week low of $44.03 and a 52-week high of $68.71.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. KB Home's revenue for the quarter was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 EPS. Research analysts anticipate that KB Home will post 3.3 EPS 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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, August 6th. KB Home's dividend payout ratio (DPR) is currently 34.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KBH shares. UBS Group boosted their target price on KB Home from $63.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. 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 report on Wednesday, June 24th. Citizens Jmp reiterated a "market outperform" rating and issued a $77.00 price target on shares of KB Home in a research note on Wednesday, June 24th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Zacks Research raised shares of KB Home from a "strong sell" rating to a "hold" rating in a report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $60.17.

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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