California State Teachers Retirement System Has $6.58 Million Holdings in KE Holdings Inc. (NYSE:BEKE)

California State Teachers Retirement System cut its holdings in KE Holdings Inc. (NYSE:BEKE - Free Report) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 357,315 shares of the company's stock after selling 21,237 shares during the period. California State Teachers Retirement System's holdings in KE were worth $6,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BEKE. Caas Capital Management LP bought a new position in shares of KE in the fourth quarter valued at $1,689,000. Vontobel Holding Ltd. grew its stake in shares of KE by 3,315.0% in the fourth quarter. Vontobel Holding Ltd. now owns 944,667 shares of the company's stock valued at $17,401,000 after buying an additional 917,005 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in KE during the fourth quarter worth $708,000. abrdn plc boosted its position in KE by 4.7% during the fourth quarter. abrdn plc now owns 619,359 shares of the company's stock worth $11,486,000 after purchasing an additional 27,524 shares during the period. Finally, Rhumbline Advisers boosted its position in KE by 10.8% during the fourth quarter. Rhumbline Advisers now owns 95,376 shares of the company's stock worth $1,757,000 after purchasing an additional 9,330 shares during the period. 39.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective 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. Jefferies Financial Group reaffirmed a "buy" rating on shares of KE in a research report on Tuesday, March 18th. Citigroup reduced their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $27.16.

KE Trading Up 1.4%

Shares of NYSE:BEKE traded up $0.26 on Wednesday, reaching $18.62. 6,741,462 shares of the company's stock were exchanged, compared to its average volume of 9,237,834. The company has a fifty day moving average of $19.45 and a 200-day moving average of $19.49. KE Holdings Inc. has a twelve month low of $12.92 and a twelve month high of $26.05. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 38.00, a PEG ratio of 3.45 and a beta of -0.73.

KE Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th were given a dividend of $0.36 per share. This represents a dividend yield of 1.4%. The ex-dividend date was Wednesday, April 9th. This is a positive change from KE's previous -- dividend of $0.17. KE's dividend payout ratio is presently 58.49%.

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.