Melqart Asset Management UK Ltd Acquires New Position in GXO Logistics, Inc. (NYSE:GXO)

Melqart Asset Management UK Ltd bought a new position in GXO Logistics, Inc. (NYSE:GXO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 268,012 shares of the company's stock, valued at approximately $11,659,000. GXO Logistics makes up about 1.4% of Melqart Asset Management UK Ltd's holdings, making the stock its 21st biggest holding. Melqart Asset Management UK Ltd owned approximately 0.22% of GXO Logistics at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GXO. Arizona State Retirement System raised its holdings in shares of GXO Logistics by 0.8% during the fourth quarter. Arizona State Retirement System now owns 34,671 shares of the company's stock worth $1,508,000 after acquiring an additional 281 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of GXO Logistics by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock valued at $2,245,000 after buying an additional 330 shares during the last quarter. Pacer Advisors Inc. increased its holdings in GXO Logistics by 1.1% in the fourth quarter. Pacer Advisors Inc. now owns 30,815 shares of the company's stock worth $1,340,000 after buying an additional 338 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in GXO Logistics by 33.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock valued at $60,000 after acquiring an additional 348 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in GXO Logistics by 8.9% in the fourth quarter. Belpointe Asset Management LLC now owns 5,728 shares of the company's stock valued at $249,000 after acquiring an additional 470 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GXO shares. Oppenheimer cut their price target on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft assumed coverage on GXO Logistics in a report on Friday, March 7th. They set a "hold" rating and a $45.00 price target on the stock. Stifel Nicolaus reiterated a "buy" rating and issued a $66.00 target price (down from $74.00) on shares of GXO Logistics in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Loop Capital downgraded GXO Logistics from a "buy" rating to a "hold" rating and lowered their price target for the company from $71.00 to $49.00 in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.57.

GXO Logistics Stock Performance

GXO opened at $35.78 on Friday. The stock has a market cap of $4.19 billion, a PE ratio of 31.95, a P/E/G ratio of 1.34 and a beta of 1.56. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The stock's 50 day simple moving average is $37.53 and its 200-day simple moving average is $46.43. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83.

GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. Sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.