Cibc World Markets Corp Trims Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Cibc World Markets Corp reduced its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after selling 300,000 shares during the quarter. Cibc World Markets Corp owned 0.08% of GXO Logistics worth $4,350,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its stake in shares of GXO Logistics by 0.8% during the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company's stock worth $1,508,000 after purchasing an additional 281 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings 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 buying an additional 290 shares in the last quarter. Pacer Advisors Inc. grew its position in GXO Logistics by 1.1% during the fourth quarter. Pacer Advisors Inc. now owns 30,815 shares of the company's stock valued at $1,340,000 after buying an additional 338 shares during the period. KBC Group NV increased its holdings in GXO Logistics by 18.6% in the third quarter. KBC Group NV now owns 3,665 shares of the company's stock valued at $191,000 after buying an additional 576 shares in the last quarter. Finally, Stablepoint Partners LLC raised its position in shares of GXO Logistics by 4.2% in the fourth quarter. Stablepoint Partners LLC now owns 15,916 shares of the company's stock worth $692,000 after acquiring an additional 637 shares during the period. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GXO. UBS Group cut their price target 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. Oppenheimer cut their price objective 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. Loop Capital downgraded GXO Logistics from a "buy" rating to a "hold" rating and reduced their target price for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Stifel Nicolaus reissued a "buy" rating and issued a $66.00 price target (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a "hold" rating and a $45.00 price objective for the company. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $55.60.

GXO Logistics Price Performance

NYSE GXO traded up $0.18 during trading hours on Monday, hitting $40.55. 1,368,890 shares of the company's stock traded hands, compared to its average volume of 1,151,462. The company has a market capitalization of $4.85 billion, a PE ratio of 36.20, a PEG ratio of 1.34 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. GXO Logistics, Inc. has a 52-week low of $34.51 and a 52-week high of $63.33. The firm's 50-day moving average is $41.70 and its 200-day moving average is $49.13.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results 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 return on equity of 11.16% and a net margin of 1.14%. Equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS 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.