50,000 Shares in KB Home $KBH Purchased by Shellback Capital LP

Key Points

• Shellback Capital LP has invested approximately $2.91 million in KB Home, acquiring 50,000 shares, which represents about 0.07% of the company's total stock.
• KB Home recently reported a quarterly earnings per share (EPS) of $1.50, exceeding analysts’ expectations, although revenue decreased by 10.5% year-over-year.
• The company declared a quarterly dividend of $0.25, reflecting an annualized dividend yield of 1.5% and a payout ratio of 13.25%.

Shellback Capital LP purchased a new stake in shares of KB Home (NYSE:KBH - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 50,000 shares of the construction company's stock, valued at approximately $2,906,000. Shellback Capital LP owned about 0.07% of KB Home at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its position in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock valued at $35,000 after acquiring an additional 258 shares during the last quarter. Sachetta LLC increased its position in shares of KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after acquiring an additional 660 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of KB Home during the first quarter valued at approximately $40,000. Byrne Asset Management LLC increased its position in shares of KB Home by 51.8% during the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after acquiring an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in shares of KB Home by 30.1% during the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after acquiring an additional 221 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the transaction, the chief operating officer directly owned 78,345 shares of the company's stock, valued at $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by insiders.

KB Home Stock Performance

Shares of KB Home stock traded up $1.85 during trading hours on Thursday, reaching $67.42. The company had a trading volume of 635,847 shares, compared to its average volume of 1,460,327. KB Home has a one year low of $48.90 and a one year high of $89.70. The business has a fifty day simple moving average of $59.58 and a 200 day simple moving average of $56.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. The firm has a market cap of $4.59 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 5.36 and a beta of 1.36.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.05. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company earned $2.15 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Thursday, August 7th. KB Home's dividend payout ratio (DPR) is presently 13.25%.

Analyst Upgrades and Downgrades

KBH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research report on Thursday, June 26th. UBS Group decreased their target price on KB Home from $86.00 to $80.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Oppenheimer started coverage on KB Home in a research report on Wednesday, September 3rd. They issued a "market perform" rating for the company. Wells Fargo & Company raised their target price on KB Home from $50.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 2nd. Finally, Evercore ISI decreased their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, KB Home has a consensus rating of "Hold" and a consensus target price of $66.86.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.