State Street Corp Increases Holdings in GXO Logistics, Inc. (NYSE:GXO)

State Street Corp raised its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,631,328 shares of the company's stock after purchasing an additional 66,232 shares during the period. State Street Corp owned about 3.04% of GXO Logistics worth $189,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of GXO Logistics by 2.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company's stock valued at $26,153,000 after buying an additional 12,208 shares during the period. Raymond James & Associates increased its position in GXO Logistics by 16.3% during the 3rd quarter. Raymond James & Associates now owns 466,749 shares of the company's stock valued at $24,304,000 after purchasing an additional 65,534 shares during the period. Swedbank AB increased its position in GXO Logistics by 15.9% during the 2nd quarter. Swedbank AB now owns 1,825,000 shares of the company's stock valued at $92,162,000 after purchasing an additional 250,000 shares during the period. Mediolanum International Funds Ltd bought a new stake in shares of GXO Logistics in the 3rd quarter valued at about $6,819,000. Finally, Susquehanna Fundamental Investments LLC lifted its position in shares of GXO Logistics by 537.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 137,732 shares of the company's stock worth $6,955,000 after purchasing an additional 116,125 shares during the period. 90.67% of the stock is owned by institutional investors.

GXO Logistics Stock Down 0.8 %

Shares of GXO stock traded down $0.37 during trading hours on Friday, reaching $48.49. 1,043,830 shares of the company's stock were exchanged, compared to its average volume of 959,200. GXO Logistics, Inc. has a 1 year low of $46.07 and a 1 year high of $63.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. The stock has a market cap of $5.79 billion, a PE ratio of 53.88, a PEG ratio of 1.49 and a beta of 1.52. The stock's fifty day moving average price is $58.08 and its two-hundred day moving average price is $52.97.

GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping 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 was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. Research analysts predict that GXO Logistics, Inc. will post 2.76 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on GXO. Oppenheimer lifted their price objective 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 GXO Logistics from $82.00 to $83.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Barclays reduced their price target on GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 4th. Susquehanna dropped their price objective on GXO Logistics from $75.00 to $73.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. Finally, Citigroup initiated coverage on shares of GXO Logistics in a report on Wednesday, October 9th. They issued a "buy" rating and a $60.00 target price for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.33.

GXO Logistics 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.