California Public Employees Retirement System Sells 71,331 Shares of KE Holdings Inc. (NYSE:BEKE)

California Public Employees Retirement System trimmed its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 7.6% in the fourth quarter, HoldingsChannel reports. The firm owned 866,136 shares of the company’s stock after selling 71,331 shares during the quarter. California Public Employees Retirement System’s holdings in KE were worth $15,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of KE during the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. bought a new stake in shares of KE during the fourth quarter worth approximately $30,000. Principal Securities Inc. grew its position in shares of KE by 411.9% in the fourth quarter. Principal Securities Inc. now owns 2,068 shares of the company’s stock valued at $38,000 after purchasing an additional 1,664 shares during the last quarter. Rakuten Securities Inc. increased its stake in shares of KE by 42.3% during the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock worth $88,000 after purchasing an additional 1,416 shares during the period. Finally, US Bancorp DE lifted its holdings in KE by 42.3% during the 4th quarter. US Bancorp DE now owns 8,826 shares of the company’s stock worth $163,000 after purchasing an additional 2,623 shares during the last quarter. 39.34% of the stock is currently owned by institutional investors and hedge funds.

KE Stock Performance

Shares of NYSE BEKE opened at $19.46 on Friday. The stock has a market capitalization of $23.51 billion, a P/E ratio of 39.71, a PEG ratio of 3.45 and a beta of -0.73. The stock’s fifty day moving average is $20.72 and its 200 day moving average is $19.90. KE Holdings Inc. has a 52 week low of $12.49 and a 52 week high of $26.05.

KE Increases Dividend

The company also recently announced a — dividend, which will be paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th will be issued a $0.36 dividend. This is a positive change from KE’s previous — dividend of $0.17. This represents a yield of 1.4%. The ex-dividend date is Wednesday, April 9th. KE’s dividend payout ratio (DPR) is currently 64.58%.

Wall Street Analysts Forecast Growth

BEKE has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of KE in a report on Tuesday, March 18th. UBS Group downgraded shares of KE from a “buy” rating to a “neutral” rating and upped their price target for the company from $22.70 to $24.50 in a research note on Thursday, March 20th. Finally, Morgan Stanley raised their price target on shares of KE from $19.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.26.

KE Company Profile

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.