Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,035,910 shares of the company’s stock after selling 42,053 shares during the period. California Public Employees Retirement System owned approximately 0.10% of Full Truck Alliance worth $11,209,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance during the 4th quarter valued at about $64,000. Truist Financial Corp purchased a new stake in Full Truck Alliance in the fourth quarter valued at approximately $143,000. Savant Capital LLC acquired a new position in Full Truck Alliance in the 4th quarter worth approximately $194,000. EverSource Wealth Advisors LLC raised its position in Full Truck Alliance by 2,104.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 21,145 shares of the company’s stock worth $229,000 after buying an additional 20,186 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Full Truck Alliance by 120.9% during the 4th quarter. Blue Trust Inc. now owns 22,090 shares of the company’s stock valued at $239,000 after acquiring an additional 12,091 shares during the period. 39.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on YMM shares. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $18.00 in a report on Thursday, March 6th. Barclays lifted their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Citigroup upped their target price on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a report on Thursday, March 6th. Finally, HSBC started coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $16.40.

Full Truck Alliance Stock Down 11.6 %

YMM opened at $11.08 on Friday. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 26.37 and a beta of 0.19. Full Truck Alliance Co. Ltd. has a 52-week low of $6.66 and a 52-week high of $13.85. The firm’s fifty day simple moving average is $12.41 and its two-hundred day simple moving average is $10.75.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, April 7th will be given a dividend of $0.1444 per share. The ex-dividend date is Monday, April 7th. This is a positive change from Full Truck Alliance’s previous annual dividend of $0.14. This represents a yield of 0.9%. Full Truck Alliance’s payout ratio is presently 39.02%.

Full Truck Alliance Company Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.