Summit Investment Advisors Inc. Cuts Position in GXO Logistics, Inc. (NYSE:GXO)

Summit Investment Advisors Inc. lowered its position in GXO Logistics, Inc. (NYSE:GXO) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,932 shares of the company’s stock after selling 578 shares during the quarter. Summit Investment Advisors Inc.’s holdings in GXO Logistics were worth $1,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GXO. Douglas Lane & Associates LLC lifted its position in shares of GXO Logistics by 6.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 480,553 shares of the company’s stock worth $20,904,000 after purchasing an additional 31,015 shares during the last quarter. Tidal Investments LLC acquired a new stake in GXO Logistics in the third quarter valued at $667,000. Barclays PLC lifted its holdings in GXO Logistics by 28.9% during the 3rd quarter. Barclays PLC now owns 62,545 shares of the company’s stock worth $3,256,000 after buying an additional 14,020 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GXO Logistics by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock worth $103,279,000 after acquiring an additional 29,992 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN increased its holdings in shares of GXO Logistics by 57.1% in the 4th quarter. Kirr Marbach & Co. LLC IN now owns 155,720 shares of the company’s stock valued at $6,774,000 after acquiring an additional 56,581 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

GXO Logistics Price Performance

GXO Logistics stock opened at $33.89 on Friday. The business has a 50 day simple moving average of $38.20 and a 200-day simple moving average of $47.08. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The stock has a market capitalization of $4.05 billion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56.

GXO Logistics (NYSE:GXO) last released its earnings results on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Equities analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on GXO. Citigroup decreased their target price on GXO Logistics from $51.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. UBS Group lowered their target price on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a report on Friday, February 14th. Morgan Stanley reduced their price target on shares of GXO Logistics from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. The Goldman Sachs Group dropped their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Truist Financial started coverage on GXO Logistics in a report on Thursday, March 13th. They issued a “hold” rating and a $40.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.93.

GXO Logistics 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.