Geode Capital Management LLC Purchases 16,593 Shares of KB Home (NYSE:KBH)

Geode Capital Management LLC raised its position in shares of KB Home (NYSE:KBH - Free Report) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,938,359 shares of the construction company's stock after purchasing an additional 16,593 shares during the quarter. Geode Capital Management LLC owned 2.64% of KB Home worth $166,125,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KBH. CWM LLC boosted its holdings in KB Home by 26.6% in the 2nd quarter. CWM LLC now owns 1,792 shares of the construction company's stock worth $126,000 after buying an additional 377 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of KB Home by 190.8% in the second quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company's stock worth $7,348,000 after acquiring an additional 68,697 shares during the period. Bank of New York Mellon Corp grew its position in shares of KB Home by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company's stock worth $61,250,000 after purchasing an additional 3,993 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in KB Home by 7.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,341 shares of the construction company's stock valued at $1,638,000 after purchasing an additional 1,523 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in KB Home by 6.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 174,507 shares of the construction company's stock valued at $12,247,000 after purchasing an additional 10,893 shares during the period. 96.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of KB Home from an "equal weight" rating to an "underweight" rating and lifted their price objective for the company from $80.00 to $83.00 in a research report on Monday, October 7th. Wedbush boosted their price target on shares of KB Home from $67.00 to $75.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price on KB Home from $92.50 to $82.00 and set a "neutral" rating on the stock in a report on Friday. The Goldman Sachs Group upped their price objective on KB Home from $72.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, September 3rd. Finally, Royal Bank of Canada downgraded shares of KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $79.92.

KB Home Stock Performance

KB Home stock traded down $0.17 during trading hours on Monday, hitting $71.25. The company had a trading volume of 1,048,214 shares, compared to its average volume of 1,203,087. The firm has a market cap of $5.23 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.59 and a beta of 1.81. The company has a 50-day moving average price of $79.83 and a two-hundred day moving average price of $78.52. KB Home has a 1 year low of $58.05 and a 1 year high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 EPS. As a group, equities research analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.40%. KB Home's payout ratio is currently 12.82%.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the business's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company's stock, valued at $2,737,156.20. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.44% of the stock is owned by 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.