GXO Logistics, Inc. (NYSE:GXO) Holdings Lowered by Perpetual Ltd

Perpetual Ltd reduced its stake in GXO Logistics, Inc. (NYSE:GXO) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,143,541 shares of the company’s stock after selling 101,371 shares during the period. GXO Logistics accounts for approximately 1.6% of Perpetual Ltd’s holdings, making the stock its 19th biggest position. Perpetual Ltd owned approximately 2.63% of GXO Logistics worth $136,744,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GXO. State Street Corp lifted its position in GXO Logistics by 1.9% in the third quarter. State Street Corp now owns 3,631,328 shares of the company’s stock worth $189,083,000 after purchasing an additional 66,232 shares during the period. Fort Pitt Capital Group LLC lifted its holdings in GXO Logistics by 2.1% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 2,467,814 shares of the company’s stock valued at $128,499,000 after acquiring an additional 51,208 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of GXO Logistics by 11.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company’s stock valued at $121,140,000 after purchasing an additional 240,766 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of GXO Logistics by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,982,920 shares of the company’s stock worth $103,279,000 after purchasing an additional 29,992 shares during the last quarter. Finally, Eminence Capital LP bought a new stake in shares of GXO Logistics in the 2nd quarter worth approximately $79,698,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GXO. UBS Group lifted their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. TD Cowen upped their target price on GXO Logistics from $82.00 to $83.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Citigroup began coverage on GXO Logistics in a research report on Wednesday, October 9th. They issued a “buy” rating and a $60.00 price target for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of GXO Logistics from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.38.

GXO Logistics Stock Performance

GXO stock opened at $43.98 on Tuesday. The firm has a 50 day simple moving average of $49.89 and a 200 day simple moving average of $52.03. GXO Logistics, Inc. has a 52 week low of $41.38 and a 52 week high of $63.33. The stock has a market cap of $5.25 billion, a P/E ratio of 48.86, a P/E/G ratio of 1.17 and a beta of 1.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86.

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

About GXO Logistics

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.