Bridgewater Associates LP Reduces Holdings in KE Holdings Inc. (NYSE:BEKE)

Bridgewater Associates LP cut its holdings in KE Holdings Inc. (NYSE:BEKE) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 623,477 shares of the company’s stock after selling 18,526 shares during the period. Bridgewater Associates LP owned 0.05% of KE worth $11,484,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. FIL Ltd raised its holdings in KE by 21.1% in the fourth quarter. FIL Ltd now owns 25,847,478 shares of the company’s stock valued at $476,111,000 after buying an additional 4,503,902 shares during the period. Renaissance Technologies LLC boosted its holdings in KE by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 8,155,694 shares of the company’s stock valued at $150,228,000 after purchasing an additional 194,800 shares during the last quarter. Norges Bank purchased a new position in shares of KE during the 4th quarter valued at approximately $130,167,000. FMR LLC grew its position in shares of KE by 39.4% during the fourth quarter. FMR LLC now owns 6,025,247 shares of the company’s stock worth $110,985,000 after buying an additional 1,703,400 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its holdings in KE by 9.9% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,112,392 shares of the company’s stock valued at $94,178,000 after acquiring an additional 462,416 shares in the last quarter. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

KE Price Performance

NYSE BEKE opened at $19.39 on Thursday. The company has a 50 day simple moving average of $20.92 and a 200-day simple moving average of $20.03. KE Holdings Inc. has a 52-week low of $12.49 and a 52-week high of $26.05. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 3.45 and a beta of -0.73.

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 paid a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a yield of 1.4%. This is an increase from KE’s previous — dividend of $0.17. KE’s payout ratio is 64.58%.

About KE

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.