Full Truck Alliance (NYSE:YMM) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Full Truck Alliance (NYSE:YMM) from a neutral rating to an overweight rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have $18.00 price objective on the stock, up from their prior price objective of $13.00.

Other equities analysts have also recently issued reports about the stock. Hsbc Global Res raised shares of Full Truck Alliance to a “strong-buy” rating in a research report on Wednesday, February 26th. Citigroup lifted their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, HSBC began coverage on shares of Full Truck Alliance in a research report on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Full Truck Alliance has an average rating of “Buy” and a consensus target price of $14.50.

Full Truck Alliance Price Performance

YMM stock opened at $13.22 on Thursday. The company has a fifty day moving average price of $11.63 and a two-hundred day moving average price of $9.96. Full Truck Alliance has a one year low of $6.18 and a one year high of $13.53. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 31.47 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, April 18th. Investors of record on Monday, April 7th will be paid a $0.1444 dividend. This represents a yield of 0.9%. The ex-dividend date of this dividend is Monday, April 7th. This is an increase from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s payout ratio is 46.34%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FIL Ltd raised its stake in Full Truck Alliance by 83.0% in the fourth quarter. FIL Ltd now owns 51,730,620 shares of the company’s stock valued at $559,725,000 after purchasing an additional 23,468,794 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Full Truck Alliance by 37.8% during 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 in the last quarter. Vanguard Group Inc. raised its stake in Full Truck Alliance by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company’s stock worth $313,164,000 after acquiring an additional 295,301 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its stake in Full Truck Alliance by 7.4% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company’s stock worth $281,534,000 after acquiring an additional 1,802,420 shares in the last quarter. Finally, Alkeon Capital Management LLC raised its stake in Full Truck Alliance by 3.9% during the third quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company’s stock worth $218,732,000 after acquiring an additional 921,820 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

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.