Geode Capital Management LLC Trims Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Geode Capital Management LLC decreased its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,970,565 shares of the company's stock after selling 12,355 shares during the quarter. Geode Capital Management LLC owned about 1.65% of GXO Logistics worth $85,748,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quantinno Capital Management LP acquired a new stake in GXO Logistics during the 3rd quarter worth about $271,000. Stifel Financial Corp boosted its holdings in shares of GXO Logistics by 95.8% in the 3rd quarter. Stifel Financial Corp now owns 76,045 shares of the company's stock valued at $3,960,000 after acquiring an additional 37,197 shares during the last quarter. State Street Corp raised its holdings in shares of GXO Logistics by 1.9% during 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 last quarter. XTX Topco Ltd grew its position in GXO Logistics by 137.4% during the 3rd quarter. XTX Topco Ltd now owns 10,711 shares of the company's stock worth $558,000 after purchasing an additional 6,199 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock valued at $60,000 after buying an additional 290 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Stock Performance

NYSE GXO traded up $0.12 on Wednesday, reaching $33.99. The stock had a trading volume of 151,851 shares, compared to its average volume of 1,219,543. 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 stock has a market cap of $4.06 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The business's 50-day moving average price is $38.58 and its 200 day moving average price is $47.30. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.00 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, equities analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GXO shares. Morgan Stanley lowered their target price on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Oppenheimer reduced their price objective on shares of 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 lowered GXO Logistics from a "buy" rating to a "hold" rating and dropped their price target for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research note on Friday, March 7th. They set a "hold" rating and a $45.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $66.00 price objective (down previously from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, GXO Logistics currently has an average rating of "Moderate Buy" and an average target price 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.