Hsbc Holdings PLC Decreases Stock Holdings in KB Home $KBH

Key Points

• Hsbc Holdings PLC cut its KB Home stake by 75.6% in the first quarter, selling 25,523 shares and retaining 8,253 shares valued at approximately $424,000. Institutional investors collectively own 96.09% of KB Home.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $60.17; individual targets range from $56 to $77.
• KB Home reported quarterly EPS of $0.43, narrowly missing estimates, while revenue fell 27.3% year over year to $1.11 billion. The company declared a quarterly dividend of $0.25 per share, representing a 1.8% yield.

Hsbc Holdings PLC decreased its holdings in shares of KB Home (NYSE:KBH - Free Report) by 75.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,253 shares of the construction company's stock after selling 25,523 shares during the quarter. Hsbc Holdings PLC's holdings in KB Home were worth $424,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. AdvisorShares Investments LLC bought a new stake in shares of KB Home in the 1st quarter worth about $445,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of KB Home by 164.1% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 35,479 shares of the construction company's stock valued at $1,836,000 after acquiring an additional 22,047 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of KB Home by 21.8% in the 1st quarter. Inspire Investing LLC now owns 10,029 shares of the construction company's stock valued at $519,000 after acquiring an additional 1,795 shares during the last quarter. 1492 Capital Management LLC purchased a new position in KB Home in the first quarter worth about $3,038,000. Finally, Falcon Wealth Planning grew its position in KB Home by 34.8% in the first quarter. Falcon Wealth Planning now owns 16,665 shares of the construction company's stock worth $862,000 after acquiring an additional 4,304 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KBH shares. Truist Financial upped their price objective on KB Home from $50.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, June 24th. Citizens Jmp reiterated a "market outperform" rating and issued a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. UBS Group boosted their target price on KB Home from $63.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Citigroup restated a "market outperform" rating on shares of KB Home in a report on Wednesday, June 17th. Finally, Zacks Research upgraded KB Home from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $60.17.

KB Home Stock Performance

KBH opened at $54.98 on Friday. The stock's 50 day moving average price is $55.30 and its 200-day moving average price is $55.67. KB Home has a one year low of $44.03 and a one year high of $68.71. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 9.11 and a beta of 1.34.

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

KB Home Announces Dividend

The firm also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 6th. KB Home's dividend payout ratio (DPR) is 34.84%.

KB Home 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.

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