9,540 Shares in GXO Logistics, Inc. (NYSE:GXO) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,540 shares of the company's stock, valued at approximately $415,000.

Several other hedge funds have also modified their holdings of GXO. KBC Group NV increased its position in GXO Logistics by 18.6% in the third quarter. KBC Group NV now owns 3,665 shares of the company's stock worth $191,000 after purchasing an additional 576 shares during the period. Natixis Advisors LLC grew its holdings in GXO Logistics by 15.0% during the third quarter. Natixis Advisors LLC now owns 17,591 shares of the company's stock valued at $916,000 after purchasing an additional 2,288 shares during the period. Primecap Management Co. CA raised its holdings in GXO Logistics by 0.9% in the third quarter. Primecap Management Co. CA now owns 229,500 shares of the company's stock worth $11,950,000 after purchasing an additional 2,100 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of GXO Logistics by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,197,898 shares of the company's stock worth $62,375,000 after purchasing an additional 17,953 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of GXO Logistics by 31.5% in the 3rd quarter. Raymond James Trust N.A. now owns 25,373 shares of the company's stock valued at $1,321,000 after buying an additional 6,078 shares during the period. 90.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GXO has been the subject of several research analyst reports. Loop Capital lowered GXO Logistics from a "buy" rating to a "hold" rating and decreased their price objective for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Morgan Stanley lowered their price target on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company dropped their price target on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Truist Financial began coverage on shares of GXO Logistics in a research note on Thursday, March 13th. They set a "hold" rating and a $40.00 price objective on the stock. Finally, Oppenheimer cut their target price on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research note on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $55.60.

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GXO Logistics Stock Performance

Shares of GXO traded up $0.18 during midday trading on Monday, reaching $40.55. 1,368,890 shares of the stock were exchanged, compared to its average volume of 1,151,403. The stock's 50 day simple moving average is $41.66 and its 200 day simple moving average is $49.08. The company has a market cap of $4.85 billion, a P/E ratio of 36.20, a PEG ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a twelve month low of $34.51 and a twelve month high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share 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%. On average, sell-side analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current 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.