Oppenheimer & Co. Inc. Buys 7,889 Shares of GXO Logistics, Inc. (NYSE:GXO)

Oppenheimer & Co. Inc. increased its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,922 shares of the company's stock after purchasing an additional 7,889 shares during the period. Oppenheimer & Co. Inc. owned approximately 0.07% of GXO Logistics worth $3,433,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its holdings in GXO Logistics by 152.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 53,648 shares of the company's stock valued at $2,334,000 after acquiring an additional 32,433 shares during the period. Peregrine Capital Management LLC raised its position in shares of GXO Logistics by 1.5% during the fourth quarter. Peregrine Capital Management LLC now owns 155,493 shares of the company's stock valued at $6,764,000 after buying an additional 2,357 shares during the last quarter. Truist Financial Corp raised its position in shares of GXO Logistics by 4.0% during the fourth quarter. Truist Financial Corp now owns 17,581 shares of the company's stock valued at $765,000 after buying an additional 675 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its position in GXO Logistics by 32.4% in 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. Finally, Rhumbline Advisers raised its position in 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 purchasing an additional 10,159 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays decreased their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group reduced their price objective on shares of GXO Logistics from $63.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Morgan Stanley reduced their price objective 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 on the stock in a research note on Tuesday, February 18th. Finally, TD Cowen increased their target price on shares of GXO Logistics from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.62.

GXO Logistics Stock Up 3.7 %

Shares of NYSE:GXO traded up $1.36 during midday trading on Wednesday, reaching $38.47. 1,566,181 shares of the company were exchanged, compared to its average volume of 1,111,364. GXO Logistics, Inc. has a fifty-two week low of $34.51 and a fifty-two week 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. The stock has a fifty day simple moving average of $42.76 and a two-hundred day simple moving average of $49.95. The firm has a market cap of $4.60 billion, a PE ratio of 34.35, a P/E/G ratio of 1.34 and a beta of 1.60.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share 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.