M&T Bank Corp Sells 41,872 Shares of GXO Logistics, Inc. (NYSE:GXO)

M&T Bank Corp cut its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 86.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,414 shares of the company's stock after selling 41,872 shares during the period. M&T Bank Corp's holdings in GXO Logistics were worth $279,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in GXO Logistics during the fourth quarter valued at about $54,000. Nomura Asset Management Co. Ltd. increased its stake in GXO Logistics by 33.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock valued at $60,000 after acquiring an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in GXO Logistics by 213.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock valued at $60,000 after acquiring an additional 933 shares during the period. Wilmington Savings Fund Society FSB bought a new position in GXO Logistics during the third quarter valued at about $71,000. Finally, Brooklyn Investment Group bought a new position in GXO Logistics during the third quarter valued at about $106,000. 90.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GXO shares. Oppenheimer decreased their price objective on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. Barclays decreased their price objective on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Morgan Stanley decreased their price objective on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Stifel Nicolaus reaffirmed a "buy" rating and set a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Finally, Truist Financial started coverage on GXO Logistics in a report on Thursday, March 13th. They set a "hold" rating and a $40.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $55.60.

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GXO Logistics Trading Down 1.1 %

GXO stock traded down $0.45 during trading on Tuesday, hitting $40.76. The company had a trading volume of 1,233,609 shares, compared to its average volume of 1,142,844. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $42.01 and a 200-day moving average price of $49.37. GXO Logistics, Inc. has a 12 month low of $34.51 and a 12 month high of $63.33. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.00 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%. As a group, analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

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.