Seven Eight Capital LP Acquires 2,415 Shares of KB Home (NYSE:KBH)

Seven Eight Capital LP increased its holdings in shares of KB Home (NYSE:KBH) by 21.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,761 shares of the construction company’s stock after acquiring an additional 2,415 shares during the period. Seven Eight Capital LP’s holdings in KB Home were worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KBH. Fidelis Capital Partners LLC bought a new stake in shares of KB Home in the 1st quarter worth approximately $60,000. Plato Investment Management Ltd boosted its holdings in KB Home by 72.0% in the first quarter. Plato Investment Management Ltd now owns 1,080 shares of the construction company’s stock worth $77,000 after acquiring an additional 452 shares in the last quarter. Tortoise Investment Management LLC grew its stake in shares of KB Home by 625.3% in the second quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock worth $78,000 after acquiring an additional 963 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of KB Home by 134.4% during the first quarter. Manchester Capital Management LLC now owns 1,137 shares of the construction company’s stock valued at $81,000 after acquiring an additional 652 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of KB Home in the 1st quarter worth about $120,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 2.7 %

KBH stock opened at $87.22 on Friday. The business’s 50-day moving average price is $81.99 and its 200-day moving average price is $73.04. The stock has a market cap of $6.56 billion, a P/E ratio of 11.54, a PEG ratio of 0.80 and a beta of 1.81. KB Home has a twelve month low of $42.11 and a twelve month high of $89.70.

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

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.15%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio is currently 13.23%.

Analysts Set New Price Targets

Several analysts recently commented on KBH shares. Wedbush reissued a “neutral” rating and set a $67.00 price objective on shares of KB Home in a research report on Thursday, September 12th. Bank of America raised their price target on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price objective on KB Home from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, June 20th. Wells Fargo & Company increased their target price on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. Finally, Evercore ISI upped their price target on KB Home from $86.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.96.

KB Home 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.