KB Home (NYSE:KBH) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in shares of KB Home (NYSE:KBH - Free Report) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,312 shares of the construction company's stock after selling 16,677 shares during the quarter. New York State Teachers Retirement System owned 0.15% of KB Home worth $8,022,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC boosted its stake in shares of KB Home by 433.0% in the fourth quarter. Manchester Capital Management LLC now owns 485 shares of the construction company's stock worth $30,000 after buying an additional 394 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in shares of KB Home in the first quarter worth about $41,000. GAMMA Investing LLC purchased a new stake in shares of KB Home in the fourth quarter worth about $47,000. Fidelis Capital Partners LLC purchased a new stake in shares of KB Home in the first quarter worth about $60,000. Finally, Daiwa Securities Group Inc. acquired a new position in KB Home in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Stock Up 5.0 %

Shares of KB Home stock traded up $4.05 during mid-day trading on Friday, reaching $85.83. 1,681,594 shares of the stock traded hands, compared to its average volume of 1,263,209. The business has a 50-day moving average of $76.20 and a 200 day moving average of $70.33. KB Home has a fifty-two week low of $42.11 and a fifty-two week high of $88.31. The stock has a market capitalization of $6.45 billion, a PE ratio of 11.35, a PEG ratio of 0.84 and a beta of 1.80.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.78 by $0.37. KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.64 billion. On average, equities research analysts expect that KB Home will post 8.38 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.17%. KB Home's dividend payout ratio is presently 13.23%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KBH shares. Keefe, Bruyette & Woods upped their price target on KB Home from $74.00 to $77.00 and gave the stock a "market perform" rating in a report on Thursday, June 20th. Royal Bank of Canada upped their price target on KB Home from $69.00 to $70.00 and gave the stock a "sector perform" rating in a report on Thursday, June 20th. Wedbush upped their price target on KB Home from $64.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, June 20th. Evercore ISI upped their price target on KB Home from $86.00 to $89.00 and gave the stock an "outperform" rating in a report on Monday, July 15th. Finally, Zelman & Associates reaffirmed an "underperform" rating and issued a $69.00 price target on shares of KB Home in a report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, KB Home presently has an average rating of "Hold" and an average target price of $71.88.

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.