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

Harvest Fund Management Co. Ltd lowered its stake in shares of KB Home (NYSE:KBH - Free Report) by 82.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,349 shares of the construction company's stock after selling 10,970 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in KB Home were worth $154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its stake in KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company's stock worth $463,690,000 after buying an additional 1,752,498 shares in the last quarter. State Street Corp lifted its holdings in shares of KB Home by 1.3% in the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company's stock worth $303,285,000 after acquiring an additional 45,311 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of KB Home by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock valued at $149,928,000 after purchasing an additional 75,143 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company's stock valued at $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in KB Home in the 3rd quarter worth $89,899,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

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Insider Activity

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.89% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on KBH. Wedbush restated a "neutral" rating and set a $75.00 price target on shares of KB Home in a research report on Tuesday. Evercore ISI increased their target price on KB Home from $88.00 to $95.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price target on KB Home from $82.00 to $74.50 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. UBS Group lowered their price objective on KB Home from $97.00 to $86.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company dropped their price objective on KB Home from $63.00 to $57.00 and set an "underweight" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $71.21.

KB Home Trading Up 1.0 %

KB Home stock traded up $0.57 during mid-day trading on Wednesday, reaching $59.14. 1,351,615 shares of the company traded hands, compared to its average volume of 1,235,852. The firm's 50 day moving average price is $63.99 and its 200 day moving average price is $72.81. KB Home has a 52-week low of $56.41 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 6.98, a P/E/G ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the company earned $1.76 earnings per share. KB Home's quarterly revenue was down 5.2% 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home's dividend payout ratio is currently 11.81%.

About KB Home

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.