JPMorgan Chase & Co. Lowers Holdings in Dingdong (Cayman) Limited Sponsored ADR $DDL

Key Points

• JPMorgan Chase & Co. reduced its stake in Dingdong (Cayman) (NYSE:DDL) by 47.4% in Q3, selling 459,095 shares and retaining 509,310 shares worth about $1.05 million (0.22% ownership).
• Other institutions—including Vanguard, Qube, Man Group, Bank of America, and GSA Capital—largely increased positions in Q3, and institutional investors now own about 24.66% of the company.
• Analysts maintain an overall Hold consensus (Zacks upgraded to Hold), while Dingdong trades near $2.68 with a market cap of roughly $632 million and reported quarterly EPS of $0.02 on $892.3 million revenue.

JPMorgan Chase & Co. lessened its stake in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL - Free Report) by 47.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 509,310 shares of the company's stock after selling 459,095 shares during the quarter. JPMorgan Chase & Co. owned 0.22% of Dingdong (Cayman) worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Dingdong (Cayman) by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,511,443 shares of the company's stock worth $9,339,000 after purchasing an additional 48,638 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Dingdong (Cayman) by 10.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 540,062 shares of the company's stock worth $1,118,000 after purchasing an additional 48,947 shares during the last quarter. Man Group plc raised its position in shares of Dingdong (Cayman) by 24.0% in the 2nd quarter. Man Group plc now owns 531,235 shares of the company's stock worth $1,073,000 after purchasing an additional 102,830 shares during the last quarter. Bank of America Corp DE raised its position in shares of Dingdong (Cayman) by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 344,875 shares of the company's stock worth $697,000 after purchasing an additional 38,756 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Dingdong (Cayman) by 188.4% in the 3rd quarter. GSA Capital Partners LLP now owns 304,692 shares of the company's stock worth $631,000 after purchasing an additional 199,033 shares during the last quarter. Hedge funds and other institutional investors own 24.66% of the company's stock.

Analysts Set New Price Targets

DDL has been the subject of several research analyst reports. Zacks Research upgraded Dingdong (Cayman) from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dingdong (Cayman) in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

Dingdong (Cayman) Stock Down 3.4%

Dingdong (Cayman) stock opened at $2.68 on Friday. The business has a 50-day simple moving average of $2.75 and a two-hundred day simple moving average of $2.38. The company has a market cap of $631.92 million, a P/E ratio of 20.58 and a beta of 0.45. Dingdong has a 52-week low of $1.65 and a 52-week high of $3.41.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $892.26 million during the quarter. Dingdong (Cayman) had a return on equity of 23.14% and a net margin of 0.91%. Research analysts anticipate that Dingdong will post 0.07 EPS for the current fiscal year.

About Dingdong (Cayman)

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.

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