KE (NYSE:BEKE) Shares Down 8.8% – Here’s Why

KE Holdings Inc. (NYSE:BEKE)’s stock price dropped 8.8% during mid-day trading on Monday . The company traded as low as $17.95 and last traded at $17.84. Approximately 6,709,206 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 9,667,758 shares. The stock had previously closed at $19.56.

Analysts Set New Price Targets

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

KE Stock Up 4.7 %

The company has a market cap of $22.17 billion, a P/E ratio of 37.45, a price-to-earnings-growth ratio of 3.45 and a beta of -0.73. The firm’s 50-day moving average price is $20.77 and its 200-day moving average price is $20.02.

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

Hedge Funds Weigh In On KE

A number of large investors have recently made changes to their positions in BEKE. SBI Securities Co. Ltd. purchased a new stake in KE during the 4th quarter worth about $30,000. GAMMA Investing LLC purchased a new stake in shares of KE in the first quarter worth about $34,000. Principal Securities Inc. boosted 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 acquiring an additional 1,664 shares during the period. Rakuten Securities Inc. grew its stake in KE by 42.3% during the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock valued at $88,000 after acquiring an additional 1,416 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of KE during the 4th quarter valued at $100,000. 39.34% of the stock is owned by institutional investors.

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.