Salem Investment Counselors Inc. Sells 4,500 Shares of KB Home (NYSE:KBH)

Salem Investment Counselors Inc. decreased its holdings in shares of KB Home (NYSE:KBH) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,435 shares of the construction company’s stock after selling 4,500 shares during the quarter. Salem Investment Counselors Inc. owned about 0.20% of KB Home worth $9,624,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in KB Home during the third quarter valued at $32,000. Riggs Asset Managment Co. Inc. purchased a new stake in KB Home during the third quarter valued at $43,000. Wilmington Savings Fund Society FSB purchased a new stake in KB Home during the third quarter valued at $59,000. Banque Cantonale Vaudoise purchased a new stake in KB Home during the third quarter valued at $61,000. Finally, Versant Capital Management Inc raised its stake in shares of KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after acquiring an additional 557 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KBH shares. Wedbush increased their target price on shares of KB Home from $67.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their target price on shares of KB Home from $74.00 to $65.00 and set an “underweight” rating on the stock in a research note on Monday. Barclays downgraded shares of KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $99.00 to $85.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their target price on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Finally, Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and cut their price target for the stock from $70.00 to $67.00 in a report on Friday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.25.

KB Home Stock Performance

KB Home stock traded up $0.32 during midday trading on Monday, hitting $63.51. 716,846 shares of the company’s stock were exchanged, compared to its average volume of 1,036,965. KB Home has a 12 month low of $58.05 and a 12 month high of $89.70. The firm has a 50-day moving average of $74.16 and a two-hundred day moving average of $78.05. The company has a market cap of $4.66 billion, a PE ratio of 8.14, a P/E/G ratio of 0.57 and a beta of 1.86.

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.