California Public Employees Retirement System Acquires 127,320 Shares of Dingdong (Cayman) Limited (NYSE:DDL)

California Public Employees Retirement System boosted its holdings in Dingdong (Cayman) Limited (NYSE:DDL) by 68.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,487 shares of the company’s stock after purchasing an additional 127,320 shares during the period. California Public Employees Retirement System owned approximately 0.13% of Dingdong (Cayman) worth $1,032,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Dingdong (Cayman) in the 4th quarter valued at about $105,000. Virtu Financial LLC bought a new stake in Dingdong (Cayman) in the third quarter valued at approximately $115,000. Quadrature Capital Ltd boosted its stake in shares of Dingdong (Cayman) by 87.9% during the third quarter. Quadrature Capital Ltd now owns 47,686 shares of the company’s stock valued at $168,000 after purchasing an additional 22,302 shares during the period. Centiva Capital LP bought a new position in shares of Dingdong (Cayman) in the third quarter worth approximately $170,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Dingdong (Cayman) in the fourth quarter worth $160,000. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Dingdong (Cayman) Stock Down 0.7 %

Shares of DDL opened at $2.14 on Wednesday. The firm has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $3.49. Dingdong has a twelve month low of $1.08 and a twelve month high of $4.79. The stock has a market capitalization of $504.35 million, a P/E ratio of 23.72 and a beta of 0.55.

Dingdong (Cayman) (NYSE:DDL) last posted its earnings results on Thursday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $808.99 million for the quarter, compared to analysts’ expectations of $798.85 million. Dingdong (Cayman) had a return on equity of 40.86% and a net margin of 0.90%. Sell-side analysts expect that Dingdong will post 0.07 EPS for the current fiscal year.

Dingdong (Cayman) announced that its Board of Directors has approved a share repurchase program on Thursday, March 6th that allows the company to repurchase $20.00 million in shares. This repurchase authorization allows the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Dingdong (Cayman) 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.