Cambria Investment Management L.P. Cuts Stock Position in KB Home $KBH

Cambria Investment Management L.P. lessened its holdings in KB Home (NYSE:KBH) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 143,702 shares of the construction company’s stock after selling 9,883 shares during the period. Cambria Investment Management L.P. owned approximately 0.22% of KB Home worth $9,145,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Xponance Inc. grew its stake in shares of KB Home by 1.6% in the 3rd quarter. Xponance Inc. now owns 10,198 shares of the construction company’s stock worth $649,000 after buying an additional 163 shares in the last quarter. GHE LLC increased its holdings in shares of KB Home by 0.7% in the 3rd quarter. GHE LLC now owns 30,983 shares of the construction company’s stock worth $1,972,000 after buying an additional 212 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of KB Home by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after buying an additional 240 shares in the last quarter. Nebula Research & Development LLC raised its position in shares of KB Home by 6.3% during the 2nd quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after buying an additional 262 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of KB Home by 15.4% in the 3rd quarter. Covestor Ltd now owns 2,020 shares of the construction company’s stock valued at $129,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

KBH stock opened at $53.19 on Thursday. KB Home has a twelve month low of $48.90 and a twelve month high of $68.71. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 7.29 and a beta of 1.47. The business’s fifty day simple moving average is $60.41 and its two-hundred day simple moving average is $61.43. The company has a quick ratio of 0.53, a current ratio of 5.77 and a debt-to-equity ratio of 0.43.

KB Home (NYSE:KBH) last issued its earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.13. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The business’s revenue was down 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 earnings per share. Analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, February 5th. KB Home’s dividend payout ratio is currently 20.37%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KBH. JPMorgan Chase & Co. reduced their price objective on KB Home from $71.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, December 29th. Truist Financial initiated coverage on KB Home in a research note on Tuesday, March 3rd. They issued a “hold” rating and a $65.00 price objective for the company. Royal Bank Of Canada dropped their target price on KB Home from $59.00 to $54.00 and set a “sector perform” rating for the company in a report on Friday, December 19th. Bank of America cut their target price on KB Home from $62.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of KB Home in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.92.

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.