Federated Hermes Inc. Raises Holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Federated Hermes Inc. increased its stake in KE Holdings Inc. by 15.6%, acquiring 392,273 shares, bringing its total ownership to approximately 2.9 million shares valued at $58.3 million.
• Institutional investors collectively own 39.34% of KE Holdings, with notable large investors like the Canada Pension Plan Investment Board and Mirae Asset Global Investments having made substantial purchases.
• KE Holdings' stock price currently stands at $18.93 with a market cap of $22.88 billion, and analysts have a consensus rating of "Moderate Buy" with an average price target of $27.16.

Federated Hermes Inc. grew its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 15.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,903,839 shares of the company's stock after purchasing an additional 392,273 shares during the quarter. Federated Hermes Inc. owned about 0.24% of KE worth $58,338,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its holdings in shares of KE by 111,822,650.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock valued at $205,978,000 after acquiring an additional 11,182,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of KE by 3,203.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock worth $160,769,000 after buying an additional 7,760,169 shares during the last quarter. Norges Bank bought a new stake in shares of KE during the fourth quarter worth $130,167,000. Aspex Management HK Ltd bought a new stake in shares of KE in the fourth quarter worth $119,996,000. Finally, Nuveen Asset Management LLC lifted its holdings in KE by 504.2% in the fourth quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company's stock valued at $103,949,000 after buying an additional 4,709,266 shares during the period. Institutional investors and hedge funds own 39.34% of the company's stock.

KE Stock Down 1.8%

Shares of NYSE BEKE traded down $0.35 during midday trading on Wednesday, hitting $18.59. The stock had a trading volume of 4,453,951 shares, compared to its average volume of 4,736,649. The company has a market capitalization of $22.46 billion, a PE ratio of 35.08, a P/E/G ratio of 1.41 and a beta of -0.76. The stock has a 50 day simple moving average of $18.60 and a 200-day simple moving average of $19.44. KE Holdings Inc. Sponsored ADR has a 1 year low of $12.92 and a 1 year high of $26.05.

Analysts Set New Price Targets

BEKE has been the subject of a number of analyst reports. Citigroup lowered their price target on KE from $25.80 to $24.80 and set a "buy" rating for the company in a research report on Friday, May 16th. Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $22.10 to $23.00 in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $27.16.

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.