Korea Investment CORP Cuts Holdings in KE Holdings Inc. (NYSE:BEKE)

Korea Investment CORP decreased its position in KE Holdings Inc. (NYSE:BEKE - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 556,896 shares of the company's stock after selling 38,300 shares during the period. Korea Investment CORP's holdings in KE were worth $10,258,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BEKE. TT International Asset Management LTD acquired a new position in KE in the fourth quarter valued at approximately $717,000. XTX Topco Ltd lifted its stake in shares of KE by 324.8% in the 3rd quarter. XTX Topco Ltd now owns 117,780 shares of the company's stock valued at $2,345,000 after purchasing an additional 90,054 shares during the last quarter. Headwater Capital Co Ltd purchased a new position in shares of KE during the 4th quarter worth $11,052,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of KE during the 3rd quarter worth about $13,540,000. Finally, ABS Direct Equity Fund LLC raised its holdings in KE by 284.5% in the 4th quarter. ABS Direct Equity Fund LLC now owns 84,200 shares of the company's stock valued at $1,551,000 after buying an additional 62,300 shares during the period. Hedge funds and other institutional investors own 39.34% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of KE from $19.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. UBS Group cut shares of KE from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $22.70 to $24.50 in a research report on Thursday, March 20th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of KE in a research report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.26.

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KE Stock Performance

Shares of BEKE traded down $1.52 during mid-day trading on Friday, hitting $19.46. 11,117,369 shares of the company's stock were exchanged, compared to its average volume of 9,649,095. The stock's 50-day moving average is $20.72 and its 200-day moving average is $19.90. KE Holdings Inc. has a fifty-two week low of $12.49 and a fifty-two week high of $26.05. The company has a market cap of $23.51 billion, a price-to-earnings ratio of 39.71, a P/E/G ratio of 3.45 and a beta of -0.73.

KE Increases Dividend

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

KE 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.