Bank of New York Mellon Corp Grows Stock Position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Bank of New York Mellon Corp boosted its position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 741,494 shares of the company’s stock after purchasing an additional 87,659 shares during the quarter. Bank of New York Mellon Corp owned about 0.06% of KE worth $14,897,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd grew its stake in shares of 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 in the last quarter. Krane Funds Advisors LLC raised its stake in shares of KE by 12.9% in the first quarter. Krane Funds Advisors LLC now owns 14,915,812 shares of the company’s stock valued at $299,659,000 after acquiring an additional 1,707,067 shares in the last quarter. Hhlr Advisors LTD. grew its stake in KE by 3.6% during the 4th quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company’s stock worth $207,433,000 after purchasing an additional 392,588 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in KE by 111,822,650.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company’s stock worth $205,978,000 after purchasing an additional 11,182,265 shares during the period. Finally, Renaissance Technologies LLC raised 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 acquiring an additional 194,800 shares in the last quarter. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Stock Performance

Shares of BEKE opened at $18.80 on Friday. The company’s 50 day moving average price is $18.61 and its 200 day moving average price is $19.34. KE Holdings Inc. Sponsored ADR has a 52 week low of $12.92 and a 52 week high of $26.05. The company has a market capitalization of $22.72 billion, a PE ratio of 35.47, a PEG ratio of 1.28 and a beta of -0.76.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BEKE shares. UBS Group raised shares of KE from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. Wall Street Zen cut KE from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Finally, Citigroup dropped their target price on KE from $25.80 to $24.80 and set a “buy” rating on the stock in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.16.

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.