Insider Selling: KB Home (KBH) Insider Sells $6,381,213.02 in Stock

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KB Home (NYSE:KBH) insider Jeffrey T. Mezger sold 272,818 shares of KB Home stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $23.39, for a total transaction of $6,381,213.02. Following the completion of the sale, the insider now owns 861,287 shares in the company, valued at $20,145,502.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

KB Home stock opened at $23.56 on Friday. The stock has a market cap of $2.11 billion, a PE ratio of 12.74, a PEG ratio of 0.48 and a beta of 1.43. KB Home has a fifty-two week low of $20.68 and a fifty-two week high of $38.80.

KB Home (NYSE:KBH) last released its quarterly earnings data on Thursday, June 28th. The construction company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. KB Home had a net margin of 2.67% and a return on equity of 12.31%. KB Home’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. research analysts predict that KB Home will post 2.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 16th. Stockholders of record on Thursday, August 2nd were paid a dividend of $0.025 per share. The ex-dividend date was Wednesday, August 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.42%. KB Home’s dividend payout ratio is presently 5.41%.

Several equities research analysts have issued reports on the stock. Citigroup lifted their price target on shares of KB Home from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, June 27th. Credit Suisse Group lowered their price target on shares of KB Home from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, June 29th. Bank of America upgraded shares of KB Home from an “underperform” rating to a “buy” rating and lifted their price target for the company from $32.00 to $37.00 in a research note on Friday, June 29th. Barclays upgraded shares of KB Home from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 29th. Finally, ValuEngine lowered shares of KB Home from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of KB Home during the 2nd quarter worth about $115,000. CenterStar Asset Management LLC bought a new stake in shares of KB Home during the 2nd quarter worth about $128,000. Cerebellum GP LLC bought a new stake in shares of KB Home during the 2nd quarter worth about $176,000. Cim Investment Mangement Inc. bought a new stake in shares of KB Home during the 1st quarter worth about $203,000. Finally, Point72 Asia Hong Kong Ltd bought a new stake in shares of KB Home during the 1st quarter worth about $238,000. Institutional investors own 86.15% of the company’s stock.

About KB Home

KB Home operates as a homebuilding company in the United States. It 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. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.

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