Shellback Capital LP Increases Position in D.R. Horton, Inc. (NYSE:DHI)

Shellback Capital LP grew its holdings in D.R. Horton, Inc. (NYSE:DHI) by 83.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,954 shares of the construction company’s stock after purchasing an additional 20,954 shares during the quarter. Shellback Capital LP’s holdings in D.R. Horton were worth $6,476,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Bfsg LLC raised its holdings in shares of D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after buying an additional 74 shares during the period. Rise Advisors LLC acquired a new position in D.R. Horton in the 1st quarter valued at about $27,000. RiverPark Advisors LLC purchased a new stake in D.R. Horton during the first quarter worth about $29,000. Riverview Trust Co acquired a new stake in shares of D.R. Horton during the first quarter worth about $30,000. Finally, Signature Resources Capital Management LLC purchased a new position in shares of D.R. Horton in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Bank of America increased their price objective on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Keefe, Bruyette & Woods boosted their target price on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and reduced their price target for the company from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $183.33.

D.R. Horton Stock Performance

Shares of DHI opened at $187.99 on Friday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $199.85. The stock has a 50 day moving average price of $183.02 and a 200 day moving average price of $160.38. The company has a market capitalization of $61.91 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same period last year, the firm posted $3.90 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Research analysts predict that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is currently 8.17%.

D.R. Horton declared that its board has initiated a share repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About D.R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.