Shellback Capital LP Grows Holdings in D.R. Horton, Inc. (NYSE:DHI)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of DHI. Bfsg LLC grew its stake 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 purchasing an additional 74 shares during the last quarter. Rise Advisors LLC purchased a new position in D.R. Horton in the 1st quarter valued at $27,000. RiverPark Advisors LLC acquired a new position in D.R. Horton in the 1st quarter valued at $29,000. Riverview Trust Co acquired a new position in D.R. Horton in the 1st quarter valued at $30,000. Finally, Signature Resources Capital Management LLC purchased a new position in D.R. Horton during the 2nd quarter worth $31,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Stock Performance

NYSE:DHI opened at $187.99 on Friday. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $61.91 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 0.89 and a beta of 1.73. The firm has a 50-day moving average price of $183.02 and a two-hundred day moving average price of $160.38. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $199.85.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping 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 business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period last year, the company posted $3.90 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts expect that D.R. Horton, Inc. will post 14.03 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.64%. D.R. Horton’s dividend payout ratio is currently 8.17%.

D.R. Horton announced that its Board of Directors has approved a share repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DHI. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Royal Bank of Canada increased their target price on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price target 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. Finally, Keefe, Bruyette & Woods increased their price objective on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $183.33.

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.