GXO Logistics, Inc. (NYSE:GXO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 22.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 495,119 shares of the company's stock after selling 141,497 shares during the period. JPMorgan Chase & Co. owned about 0.41% of GXO Logistics worth $25,781,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GXO. DekaBank Deutsche Girozentrale acquired a new position in GXO Logistics in the third quarter valued at about $28,000. UMB Bank n.a. boosted its position in shares of GXO Logistics by 111.4% during the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company's stock valued at $33,000 after purchasing an additional 331 shares in the last quarter. Signaturefd LLC increased its stake in shares of GXO Logistics by 37.2% in the 3rd quarter. Signaturefd LLC now owns 918 shares of the company's stock valued at $48,000 after acquiring an additional 249 shares in the last quarter. Hara Capital LLC bought a new position in shares of GXO Logistics during the 3rd quarter worth about $50,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of GXO Logistics by 37.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company's stock worth $54,000 after purchasing an additional 282 shares during the period. Institutional investors and hedge funds own 90.67% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GXO. Barclays reduced their price objective on shares of 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. TD Cowen raised their price objective on shares of GXO Logistics from $82.00 to $83.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. UBS Group raised their price objective on GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Oppenheimer raised their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, Susquehanna decreased their target price on GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, GXO Logistics has a consensus rating of "Moderate Buy" and an average target price of $66.33.

GXO Logistics Stock Performance

Shares of GXO traded down $0.79 during trading hours on Wednesday, hitting $44.75. The stock had a trading volume of 1,696,284 shares, compared to its average volume of 1,319,497. The firm has a 50-day moving average price of $52.74 and a 200 day moving average price of $52.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. GXO Logistics, Inc. has a fifty-two week low of $41.38 and a fifty-two week high of $63.33. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 49.72, a PEG ratio of 1.47 and a beta of 1.60.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.01. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.01 billion. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, research analysts anticipate that GXO Logistics, Inc. will post 2.76 EPS 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.