Harvest Fund Management Co. Ltd Cuts Stock Holdings in KB Home (NYSE:KBH)

Harvest Fund Management Co. Ltd reduced its position in shares of KB Home (NYSE:KBH) by 82.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,349 shares of the construction company’s stock after selling 10,970 shares during the period. Harvest Fund Management Co. Ltd’s holdings in KB Home were worth $154,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of KBH. FMR LLC boosted its holdings in shares of KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of KB Home during the 3rd quarter worth approximately $89,899,000. Hennessy Advisors Inc. acquired a new position in shares of KB Home during the 4th quarter worth approximately $44,118,000. Raymond James Financial Inc. acquired a new position in shares of KB Home during the 4th quarter worth approximately $12,288,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock worth $77,655,000 after purchasing an additional 164,010 shares during the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. lowered their target price on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Raymond James reiterated an “outperform” rating and issued a $80.00 price objective (down from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Bank of America decreased their price objective on KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Finally, The Goldman Sachs Group decreased their price objective on KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.21.

KB Home Stock Down 2.7 %

KB Home stock opened at $59.61 on Friday. KB Home has a twelve month low of $58.80 and a twelve month high of $89.70. The stock’s fifty day simple moving average is $64.22 and its 200-day simple moving average is $73.12. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $4.26 billion, a P/E ratio of 7.04, a P/E/G ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the company earned $1.85 earnings per share. The company’s revenue was up 19.5% on a year-over-year basis. As a group, equities analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 11.81%.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.89% of the stock is currently owned by corporate insiders.

KB Home Company 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.