Swedbank AB Boosts Position in GXO Logistics, Inc. (NYSE:GXO)

Swedbank AB lifted its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,050,000 shares of the company's stock after acquiring an additional 250,000 shares during the quarter. Swedbank AB owned 1.72% of GXO Logistics worth $89,175,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Global Alpha Capital Management Ltd. bought a new stake in GXO Logistics in the third quarter worth $32,434,000. Brown Brothers Harriman & Co. increased its holdings in shares of GXO Logistics by 105.0% in the third quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company's stock worth $50,418,000 after buying an additional 495,829 shares during the period. River Road Asset Management LLC lifted its stake in shares of GXO Logistics by 40.4% in the 3rd quarter. River Road Asset Management LLC now owns 1,308,532 shares of the company's stock valued at $68,135,000 after acquiring an additional 376,704 shares during the last quarter. Millennium Management LLC boosted its holdings in GXO Logistics by 105.5% during the 2nd quarter. Millennium Management LLC now owns 487,200 shares of the company's stock valued at $24,604,000 after acquiring an additional 250,113 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in GXO Logistics during the 3rd quarter valued at about $6,819,000. Hedge funds and other institutional investors own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup started coverage on GXO Logistics in a research report on Wednesday, October 9th. They issued a "buy" rating and a $60.00 price objective for the company. Barclays lowered their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group reduced their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. TD Cowen increased their price objective on GXO Logistics from $82.00 to $83.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, UBS Group boosted their target price on GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.38.

GXO Logistics Stock Up 0.1 %

GXO Logistics stock traded up $0.04 during mid-day trading on Thursday, hitting $46.22. The company had a trading volume of 222,986 shares, compared to its average volume of 1,110,219. GXO Logistics, Inc. has a 12 month low of $41.38 and a 12 month high of $63.33. The company has a market capitalization of $5.52 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60. The stock's 50 day moving average price is $47.96 and its two-hundred day moving average price is $51.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.01 billion. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. GXO Logistics's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. As a group, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.73 earnings per share 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.