Westpac Banking Corp Has $5.63 Million Position in Full Truck Alliance Co. Ltd. (NYSE:YMM)

Westpac Banking Corp lowered its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 520,006 shares of the company's stock after selling 58,269 shares during the quarter. Westpac Banking Corp's holdings in Full Truck Alliance were worth $5,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Full Truck Alliance by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock worth $409,811,000 after acquiring an additional 10,383,716 shares during the last quarter. Norges Bank acquired a new stake in Full Truck Alliance in the 4th quarter worth $101,649,000. Empower Harvest Management Services Inc. bought a new position in shares of Full Truck Alliance during the 4th quarter worth about $97,058,000. Davis Selected Advisers bought a new position in shares of Full Truck Alliance during the 4th quarter worth about $58,432,000. Finally, North of South Capital LLP increased its holdings in shares of Full Truck Alliance by 74.8% during the 4th quarter. North of South Capital LLP now owns 5,692,489 shares of the company's stock worth $61,593,000 after purchasing an additional 2,436,130 shares during the period. Institutional investors and hedge funds own 39.02% of the company's stock.

Wall Street Analyst Weigh In

YMM has been the subject of several recent research reports. Barclays upped their price target on Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Hsbc Global Res upgraded Full Truck Alliance to a "strong-buy" rating in a research note on Wednesday, February 26th. 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. JPMorgan Chase & Co. raised shares of Full Truck Alliance from a "neutral" rating to an "overweight" rating and upped their target price for the company from $13.00 to $18.00 in a research note on Thursday, March 6th. Finally, Industrial Alliance Securities set a $18.00 price target on shares of Full Truck Alliance in a research note on Thursday, March 6th. One research 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 company. According to data from MarketBeat, Full Truck Alliance presently has a consensus rating of "Buy" and a consensus target price of $16.40.

Full Truck Alliance Price Performance

Shares of YMM traded up $0.08 during trading hours on Tuesday, hitting $10.59. The stock had a trading volume of 6,385,686 shares, compared to its average volume of 8,981,571. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 25.20 and a beta of 0.19. The company's fifty day moving average is $12.39 and its two-hundred day moving average is $10.80. Full Truck Alliance Co. Ltd. has a 52 week low of $6.66 and a 52 week high of $13.85.

Full Truck Alliance Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, April 17th. Stockholders 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. The ex-dividend date is Monday, April 7th. This represents a dividend yield of 0.9%. Full Truck Alliance's dividend payout ratio (DPR) is presently 39.02%.

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.