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

California Public Employees Retirement System grew its holdings in shares of Dingdong (Cayman) Limited (NYSE:DDL - Free Report) by 68.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,487 shares of the company's stock after purchasing an additional 127,320 shares during the quarter. California Public Employees Retirement System owned about 0.13% of Dingdong (Cayman) worth $1,032,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Quadrature Capital Ltd boosted its stake in Dingdong (Cayman) by 87.9% in the 3rd quarter. Quadrature Capital Ltd now owns 47,686 shares of the company's stock worth $168,000 after purchasing an additional 22,302 shares during the period. New York State Common Retirement Fund grew its stake in Dingdong (Cayman) by 36.8% during 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 in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Dingdong (Cayman) during the 4th quarter worth approximately $105,000. Virtu Financial LLC purchased a new stake in Dingdong (Cayman) in the 3rd quarter worth approximately $115,000. Finally, Sei Investments Co. boosted its holdings in Dingdong (Cayman) by 139.7% in the 4th quarter. Sei Investments Co. now owns 59,617 shares of the company's stock valued at $196,000 after purchasing an additional 34,747 shares during the period. Hedge funds and other institutional investors own 24.66% of the company's stock.

Dingdong (Cayman) Trading Up 11.3 %

Shares of Dingdong (Cayman) stock traded up $0.25 during trading on Monday, hitting $2.42. The stock had a trading volume of 278,117 shares, compared to its average volume of 708,944. The firm has a market cap of $570.49 million, a price-to-earnings ratio of 26.83 and a beta of 0.55. Dingdong has a 12 month low of $1.08 and a 12 month high of $4.79. The business's 50-day moving average is $3.02 and its 200 day moving average is $3.47.

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

Dingdong (Cayman) declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 6th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

About Dingdong (Cayman)

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.