Short Interest in KB Home (NYSE:KBH) Declines By 5.4%

KB Home (NYSE:KBH) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,429,300 shares, a drop of 5.4% from the May 15th total of 4,681,200 shares. Based on an average daily volume of 1,610,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 5.2% of the shares of the stock are sold short.

Several equities analysts recently issued reports on KBH shares. Bank of America set a $420.00 price target on Boeing and gave the stock a “hold” rating in a research report on Thursday, June 27th. Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Monday, July 8th. Royal Bank of Canada lifted their price target on Victory Capital to $19.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. ValuEngine lowered Zogenix from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, BTIG Research cut EVO Payments from a “buy” rating to a “neutral” rating in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $26.30.

NYSE KBH traded down $0.15 during midday trading on Friday, hitting $26.64. 1,418,968 shares of the company traded hands, compared to its average volume of 1,964,865. The stock has a market capitalization of $2.35 billion, a P/E ratio of 9.45, a PEG ratio of 1.13 and a beta of 1.42. The firm has a 50-day simple moving average of $25.86. KB Home has a 52 week low of $16.82 and a 52 week high of $27.64.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 26th. The construction company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $933.49 million. KB Home had a return on equity of 12.43% and a net margin of 5.94%. The business’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities analysts predict that KB Home will post 2.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $0.09 dividend. This is a positive change from KB Home’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.35%. KB Home’s payout ratio is presently 3.55%.

In other KB Home news, CAO William R. Hollinger sold 68,147 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $26.16, for a total value of $1,782,725.52. Following the sale, the chief accounting officer now owns 228,174 shares of the company’s stock, valued at approximately $5,969,031.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian J. Woram sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $27.02, for a total value of $270,200.00. Following the completion of the sale, the executive vice president now directly owns 151,770 shares in the company, valued at approximately $4,100,825.40. The disclosure for this sale can be found here. 7.32% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in KBH. ETF Managers Group LLC increased its position in shares of KB Home by 11.2% during the first quarter. ETF Managers Group LLC now owns 5,042 shares of the construction company’s stock worth $122,000 after acquiring an additional 506 shares during the period. Comerica Bank increased its position in shares of KB Home by 1.8% during the fourth quarter. Comerica Bank now owns 55,276 shares of the construction company’s stock worth $1,128,000 after acquiring an additional 961 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of KB Home by 4.3% during the second quarter. Crossmark Global Holdings Inc. now owns 23,900 shares of the construction company’s stock worth $615,000 after acquiring an additional 975 shares during the period. Texas Permanent School Fund increased its position in shares of KB Home by 1.9% during the first quarter. Texas Permanent School Fund now owns 57,458 shares of the construction company’s stock worth $1,389,000 after acquiring an additional 1,053 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of KB Home by 3.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 34,469 shares of the construction company’s stock worth $833,000 after acquiring an additional 1,138 shares during the period. 89.53% of the stock is currently owned by institutional investors.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.

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