GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its stake in shares of GXO Logistics, Inc. (NYSE:GXO) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,913 shares of the company’s stock after selling 320 shares during the quarter. Exchange Traded Concepts LLC’s holdings in GXO Logistics were worth $9,479,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Global Alpha Capital Management Ltd. bought a new stake in GXO Logistics in the third quarter valued at about $32,434,000. Brown Brothers Harriman & Co. increased its holdings in shares of GXO Logistics by 105.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company’s stock valued at $50,418,000 after acquiring an additional 495,829 shares during the last quarter. River Road Asset Management LLC lifted its stake in GXO Logistics by 40.4% during the third quarter. River Road Asset Management LLC now owns 1,308,532 shares of the company’s stock worth $68,135,000 after purchasing an additional 376,704 shares during the last quarter. Millennium Management LLC boosted its holdings in GXO Logistics by 105.5% in the second quarter. Millennium Management LLC now owns 487,200 shares of the company’s stock worth $24,604,000 after purchasing an additional 250,113 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in GXO Logistics during the third quarter valued at $6,819,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GXO shares. Citigroup started coverage on shares of GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target on the stock. The Goldman Sachs Group decreased their target price on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. UBS Group increased their price target on GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer boosted their price objective on GXO Logistics from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, TD Cowen increased their target price on GXO Logistics from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, GXO Logistics has an average rating of “Moderate Buy” and a consensus target price of $65.38.

GXO Logistics Price Performance

Shares of GXO opened at $45.19 on Friday. GXO Logistics, Inc. has a one year low of $41.38 and a one year high of $63.33. The stock’s fifty day moving average is $48.72 and its 200-day moving average is $51.88. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 50.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60.

GXO Logistics (NYSE:GXO) last released its earnings results on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. GXO Logistics’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. Equities analysts anticipate that GXO Logistics, Inc. will post 2.73 EPS for the current year.

GXO Logistics Company Profile

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.