Bank of New York Mellon Corp Sells 22,176 Shares of GXO Logistics, Inc. (NYSE:GXO)

Bank of New York Mellon Corp lowered its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 861,069 shares of the company's stock after selling 22,176 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of GXO Logistics worth $37,456,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Peregrine Capital Management LLC raised its stake in shares of GXO Logistics by 1.5% in the fourth quarter. Peregrine Capital Management LLC now owns 155,493 shares of the company's stock valued at $6,764,000 after acquiring an additional 2,357 shares in the last quarter. Truist Financial Corp raised its position in GXO Logistics by 4.0% in the fourth quarter. Truist Financial Corp now owns 17,581 shares of the company's stock worth $765,000 after acquiring an additional 675 shares in the last quarter. Blue Zone Wealth Advisors LLC boosted its position in GXO Logistics by 32.4% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 63,484 shares of the company's stock worth $2,762,000 after purchasing an additional 15,542 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of GXO Logistics by 3.2% in the fourth quarter. Rhumbline Advisers now owns 329,829 shares of the company's stock worth $14,348,000 after acquiring an additional 10,159 shares during the last quarter. Finally, Life Planning Partners Inc grew its position in shares of GXO Logistics by 4,250.0% in the fourth quarter. Life Planning Partners Inc now owns 263,393 shares of the company's stock valued at $11,458,000 after purchasing an additional 257,338 shares during the period. Hedge funds and other institutional investors own 90.67% of the company's stock.

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Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Oppenheimer reduced their price target on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. UBS Group lowered their target price on GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, Wells Fargo & Company lowered their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.71.

GXO Logistics Price Performance

GXO traded down $0.50 during trading on Tuesday, reaching $37.00. 2,573,728 shares of the company traded hands, compared to its average volume of 1,121,408. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The company has a market cap of $4.42 billion, a P/E ratio of 33.03, a PEG ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The firm has a fifty day simple moving average of $42.46 and a 200 day simple moving average of $49.74.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.