California Public Employees Retirement System Sells 51,826 Shares of GXO Logistics, Inc. (NYSE:GXO)

California Public Employees Retirement System trimmed its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 26.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,240 shares of the company's stock after selling 51,826 shares during the period. California Public Employees Retirement System owned 0.12% of GXO Logistics worth $6,187,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of GXO Logistics during the 4th quarter valued at $41,000. Summit Securities Group LLC lifted its position in GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock valued at $44,000 after acquiring an additional 897 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in GXO Logistics by 33.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock worth $60,000 after acquiring an additional 290 shares in the last quarter. R Squared Ltd purchased a new stake in shares of GXO Logistics in the 4th quarter worth approximately $54,000. Finally, Wilmington Savings Fund Society FSB bought a new position in GXO Logistics in the 3rd quarter worth about $71,000. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Performance

GXO stock traded up $0.58 during midday trading on Friday, reaching $34.34. 1,298,242 shares of the company's stock traded hands, compared to its average volume of 1,216,259. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The stock has a market cap of $4.10 billion, a P/E ratio of 30.66, a PEG ratio of 1.34 and a beta of 1.56. The stock's 50-day moving average is $38.98 and its 200 day moving average is $47.55.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. As a group, analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays decreased 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 report on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Truist Financial initiated coverage on GXO Logistics in a report on Thursday, March 13th. They set a "hold" rating and a $40.00 price target on the stock. Stifel Nicolaus reiterated a "buy" rating and issued a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Finally, Oppenheimer lowered their target price on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, GXO Logistics presently has an average rating of "Moderate Buy" and a consensus price target 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.