Federated Hermes Inc. Trims Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Federated Hermes Inc. decreased its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 585,899 shares of the company's stock after selling 540,005 shares during the quarter. Federated Hermes Inc. owned about 0.49% of GXO Logistics worth $25,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quantinno Capital Management LP acquired a new stake in shares of GXO Logistics during the 3rd quarter worth about $271,000. Quadrature Capital Ltd acquired a new stake in shares of GXO Logistics during the third quarter valued at about $245,000. Stifel Financial Corp raised its stake 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 period. State Street Corp lifted its holdings in shares of GXO Logistics by 1.9% in the 3rd quarter. State Street Corp now owns 3,631,328 shares of the company's stock worth $189,083,000 after acquiring an additional 66,232 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in shares of 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. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Stock Up 1.2 %

GXO stock traded up $0.40 during trading on Monday, hitting $34.65. 299,130 shares of the company's stock were exchanged, compared to its average volume of 1,640,200. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $38.98 and a two-hundred day moving average price of $47.52.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its 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, equities research analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GXO. Loop Capital cut GXO Logistics from a "buy" rating to a "hold" rating and decreased their price target for the stock from $71.00 to $49.00 in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a report on Friday, February 14th. UBS Group cut their price target on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a "hold" rating and a $45.00 price objective for the company. Finally, The Goldman Sachs Group cut their target price 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.93.

GXO Logistics Company 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.