California Public Employees Retirement System Reduces Holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM)

California Public Employees Retirement System trimmed its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing 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 quarter. California Public Employees Retirement System owned about 0.10% of Full Truck Alliance worth $11,209,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of YMM. JPMorgan Chase & Co. lifted its position in shares of Full Truck Alliance by 37.8% during the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock valued at $409,811,000 after purchasing an additional 10,383,716 shares in the last quarter. Norges Bank bought a new stake in shares of Full Truck Alliance in the fourth quarter valued at approximately $101,649,000. Empower Harvest Management Services Inc. purchased a new position in Full Truck Alliance during the fourth quarter valued at approximately $97,058,000. Davis Selected Advisers purchased a new position in Full Truck Alliance during the fourth quarter valued at approximately $58,432,000. Finally, North of South Capital LLP grew its stake in Full Truck Alliance by 74.8% in the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company's stock worth $61,593,000 after buying an additional 2,436,130 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

NYSE:YMM traded down $0.25 during midday trading on Thursday, reaching $10.26. 3,379,983 shares of the stock traded hands, compared to its average volume of 8,358,941. The company has a fifty day moving average of $12.31 and a 200 day moving average of $10.83. Full Truck Alliance Co. Ltd. has a 12 month low of $6.66 and a 12 month high of $13.85. The stock has a market capitalization of $10.81 billion, a P/E ratio of 24.46 and a beta of 0.19.

Full Truck Alliance Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on YMM. Barclays boosted their price target on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $13.00 to $18.00 in a research note on Thursday, March 6th. Hsbc Global Res raised shares of Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a research note on Thursday, March 6th. Finally, HSBC initiated coverage on shares of Full Truck Alliance in a research note on Wednesday, February 26th. They issued a "buy" rating and a $18.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance currently has an average rating of "Buy" and a consensus price target of $16.40.

About Full Truck Alliance

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.