Swedbank AB Lowers Stake in GXO Logistics, Inc. (NYSE:GXO)

Swedbank AB lessened its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,800,000 shares of the company's stock after selling 25,000 shares during the period. Swedbank AB owned 1.51% of GXO Logistics worth $93,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Algert Global LLC increased its position in GXO Logistics by 179.5% during the third quarter. Algert Global LLC now owns 104,631 shares of the company's stock worth $5,448,000 after buying an additional 67,190 shares during the period. Cerity Partners LLC raised its position in GXO Logistics by 3.7% in the 3rd quarter. Cerity Partners LLC now owns 103,523 shares of the company's stock valued at $5,390,000 after purchasing an additional 3,719 shares during the last quarter. Raymond James Trust N.A. boosted its stake 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 worth $1,321,000 after purchasing an additional 6,078 shares during the period. Charles Schwab Investment Management Inc. grew its position in GXO Logistics by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,898 shares of the company's stock worth $62,375,000 after purchasing an additional 17,953 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in GXO Logistics by 0.9% in the third quarter. Primecap Management Co. CA now owns 229,500 shares of the company's stock valued at $11,950,000 after purchasing an additional 2,100 shares during the period. Hedge funds and other institutional investors own 90.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GXO shares. UBS Group increased their target price on shares of GXO Logistics from $66.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Citigroup began coverage on GXO Logistics in a research note on Wednesday, October 9th. They issued a "buy" rating and a $60.00 target price on the stock. TD Cowen upped their price target on GXO Logistics from $82.00 to $83.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Barclays lifted their price objective on shares of GXO Logistics from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 13th. Finally, Susquehanna cut their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a research report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

GXO Logistics Price Performance

GXO stock traded up $1.15 during midday trading on Monday, hitting $61.62. 853,398 shares of the stock were exchanged, compared to its average volume of 930,589. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 68.46, a PEG ratio of 1.82 and a beta of 1.55. GXO Logistics, Inc. has a fifty-two week low of $46.07 and a fifty-two week high of $63.33. The stock's 50-day moving average price is $57.27 and its 200-day moving average price is $52.77.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. GXO Logistics had a net margin of 0.97% and a return on equity of 10.03%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. Research analysts predict that GXO Logistics, Inc. will post 2.77 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.