Cambria Investment Management L.P. Trims Stake in KB Home $KBH

Cambria Investment Management L.P. cut its position in shares of KB Home (NYSE:KBH) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,702 shares of the construction company’s stock after selling 9,883 shares during the period. Cambria Investment Management L.P.’s holdings in KB Home were worth $9,145,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Freestone Grove Partners LP bought a new position in shares of KB Home during the 3rd quarter worth $111,050,000. Norges Bank purchased a new position in shares of KB Home during the second quarter valued at $55,329,000. Deprince Race & Zollo Inc. bought a new stake in shares of KB Home in the third quarter valued at about $59,301,000. Bank of America Corp DE raised its holdings in shares of KB Home by 36.4% in the third quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after acquiring an additional 275,965 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in KB Home by 6,329.8% in the second quarter. Edgestream Partners L.P. now owns 241,953 shares of the construction company’s stock worth $12,816,000 after acquiring an additional 238,190 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KBH. Zacks Research cut shares of KB Home from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 23rd. Truist Financial initiated coverage on shares of KB Home in a research report on Tuesday, March 3rd. They issued a “hold” rating and a $65.00 price target for the company. Royal Bank Of Canada dropped their price objective on shares of KB Home from $59.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Friday, December 19th. Wells Fargo & Company cut their price objective on shares of KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a report on Friday, December 19th. Finally, Bank of America reduced their price objective on shares of KB Home from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus price target of $62.92.

KB Home Price Performance

KBH opened at $53.19 on Thursday. The firm has a market capitalization of $3.36 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 7.29 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 5.77 and a quick ratio of 0.53. The business’s 50-day moving average is $60.41 and its two-hundred day moving average is $61.43. KB Home has a 1 year low of $48.90 and a 1 year high of $68.71.

KB Home (NYSE:KBH) last released its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the firm posted $2.52 earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. Research 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 19th. Investors of record on Thursday, February 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, February 5th. KB Home’s payout ratio is 20.37%.

KB Home Company 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.