JPMorgan Chase & Co. Acquires 265,762 Shares of Dingdong (Cayman) Limited (NYSE:DDL)

JPMorgan Chase & Co. lifted its holdings in Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 268.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 364,696 shares of the company's stock after buying an additional 265,762 shares during the quarter. JPMorgan Chase & Co. owned about 0.15% of Dingdong (Cayman) worth $1,196,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Dingdong (Cayman) in the 4th quarter valued at $105,000. Virtu Financial LLC bought a new position in Dingdong (Cayman) during the third quarter worth about $115,000. Cornerstone Investment Partners LLC bought a new stake in Dingdong (Cayman) in the fourth quarter valued at approximately $160,000. Sei Investments Co. lifted its holdings in Dingdong (Cayman) by 139.7% during the fourth quarter. Sei Investments Co. now owns 59,617 shares of the company's stock worth $196,000 after acquiring an additional 34,747 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Dingdong (Cayman) by 36.8% in the fourth quarter. New York State Common Retirement Fund now owns 88,389 shares of the company's stock valued at $290,000 after acquiring an additional 23,774 shares during the period. Institutional investors own 24.66% of the company's stock.

Dingdong (Cayman) Stock Performance

NYSE DDL traded up $0.02 during trading hours on Thursday, reaching $2.51. 132,800 shares of the company's stock were exchanged, compared to its average volume of 850,954. The company has a market capitalization of $591.75 million, a price-to-earnings ratio of 27.83 and a beta of 0.55. The company's 50-day moving average is $2.75 and its two-hundred day moving average is $3.37. Dingdong has a one year low of $1.35 and a one year high of $4.79.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.02. The business had revenue of $808.99 million for the quarter, compared to analyst estimates of $798.85 million. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. Research analysts predict that Dingdong will post 0.07 earnings per share for the current fiscal year.

Dingdong (Cayman) declared that its board has authorized a stock buyback program on Thursday, March 6th that authorizes the company to buyback $20.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Dingdong (Cayman) Company Profile

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.