GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Fmr LLC

FMR LLC decreased its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 50.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,127,140 shares of the company's stock after selling 1,168,172 shares during the period. FMR LLC owned approximately 0.94% of GXO Logistics worth $58,690,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. increased its holdings in GXO Logistics by 105.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company's stock valued at $50,418,000 after acquiring an additional 495,829 shares in the last quarter. Independent Advisor Alliance increased its holdings in GXO Logistics by 10.4% during the 3rd quarter. Independent Advisor Alliance now owns 24,749 shares of the company's stock valued at $1,289,000 after acquiring an additional 2,338 shares in the last quarter. Algert Global LLC increased its holdings in GXO Logistics by 179.5% during the 3rd quarter. Algert Global LLC now owns 104,631 shares of the company's stock valued at $5,448,000 after acquiring an additional 67,190 shares in the last quarter. Cerity Partners LLC increased its holdings in GXO Logistics by 3.7% during the 3rd quarter. Cerity Partners LLC now owns 103,523 shares of the company's stock valued at $5,390,000 after acquiring an additional 3,719 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in GXO Logistics by 31.5% during the 3rd quarter. Raymond James Trust N.A. now owns 25,373 shares of the company's stock valued at $1,321,000 after acquiring an additional 6,078 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Oppenheimer raised their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. TD Cowen lifted their price target 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. UBS Group lifted their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Barclays lowered their price target on shares of GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Susquehanna lowered their price target on shares of GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.33.

GXO Logistics Trading Down 0.2 %

Shares of GXO traded down $0.09 during mid-day trading on Friday, hitting $49.75. The company had a trading volume of 1,659,272 shares, compared to its average volume of 1,022,905. The business's 50-day simple moving average is $58.20 and its 200-day simple moving average is $53.03. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.81. GXO Logistics, Inc. has a 1-year low of $46.07 and a 1-year high of $63.33. The stock has a market cap of $5.94 billion, a PE ratio of 55.31, a P/E/G ratio of 1.54 and a beta of 1.52.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.01. The firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations 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 was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Sell-side analysts forecast that GXO Logistics, Inc. will post 2.76 earnings per share for the current 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.