KB Home (NYSE:KBH) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in shares of KB Home (NYSE:KBH - Free Report) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,622,111 shares of the construction company's stock after selling 316,248 shares during the period. Geode Capital Management LLC owned about 2.25% of KB Home worth $106,630,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of KBH. State Street Corp raised its position in shares of KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company's stock valued at $303,285,000 after buying an additional 45,311 shares during the last quarter. Fisher Asset Management LLC raised its holdings in 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 acquiring an additional 75,143 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in KB Home by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 756,810 shares of the construction company's stock worth $49,738,000 after purchasing an additional 15,867 shares in the last quarter. Norges Bank acquired a new position in shares of KB Home during the 4th quarter worth approximately $49,638,000. Finally, JPMorgan Chase & Co. grew its position in shares of KB Home by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 727,809 shares of the construction company's stock valued at $47,832,000 after purchasing an additional 142,913 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on KB Home from $60.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 25th. Seaport Res Ptn upgraded shares of KB Home from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Bank of America decreased their target price on shares of KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Wedbush restated a "neutral" rating and set a $75.00 price target on shares of KB Home in a report on Tuesday, March 25th. Finally, StockNews.com cut KB Home from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned 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 $71.04.

Insider Activity

In related 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 value of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.89% of the company's stock.

KB Home Trading Up 0.5 %

KBH traded up $0.26 during mid-day trading on Tuesday, hitting $51.28. 207,024 shares of the stock were exchanged, compared to its average volume of 1,308,156. The company has a market cap of $3.66 billion, a PE ratio of 6.05, a PEG ratio of 0.90 and a beta of 1.65. 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's fifty day moving average is $60.04 and its two-hundred day moving average is $69.58. KB Home has a 1-year low of $48.90 and a 1-year high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the previous year, the business posted $1.76 EPS. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, February 6th. KB Home's dividend payout ratio is currently 12.20%.

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.