Wells Fargo & Company MN Trims Stake in GXO Logistics, Inc. (NYSE:GXO)

Wells Fargo & Company MN reduced its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 497,384 shares of the company's stock after selling 34,421 shares during the quarter. Wells Fargo & Company MN owned approximately 0.42% of GXO Logistics worth $21,636,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GXO. Murphy & Mullick Capital Management Corp bought a new stake in GXO Logistics in the fourth quarter worth about $41,000. Summit Securities Group LLC increased its holdings in GXO Logistics by 870.9% during the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after acquiring an additional 897 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock valued at $60,000 after purchasing an additional 290 shares during the period. R Squared Ltd bought a new position in shares of GXO Logistics in the fourth quarter worth $54,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in GXO Logistics during the third quarter valued at $71,000. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Up 1.7 %

GXO Logistics stock traded up $0.56 during trading hours on Thursday, hitting $33.89. The stock had a trading volume of 932,897 shares, compared to its average volume of 1,224,571. The stock's 50-day moving average price is $38.39 and its 200-day moving average price is $47.20. The stock has a market capitalization of $4.05 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month 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.

GXO Logistics (NYSE:GXO - Get Free Report) last posted 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%. Equities research analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Oppenheimer dropped their price target on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a research report on Tuesday, February 18th. Barclays dropped their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Stifel Nicolaus reissued a "buy" rating and issued a $66.00 target price (down previously from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. UBS Group cut their price objective on GXO Logistics from $72.00 to $50.00 and set a "buy" rating for the company in a report on Friday, February 14th. Finally, Citigroup dropped their target price on GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, GXO Logistics has a consensus rating of "Moderate Buy" and a consensus price target 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.