New York State Common Retirement Fund Cuts Holdings in GXO Logistics, Inc. (NYSE:GXO)

New York State Common Retirement Fund reduced its position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200,452 shares of the company's stock after selling 10,374 shares during the period. New York State Common Retirement Fund owned 0.17% of GXO Logistics worth $8,720,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GXO. Signaturefd LLC lifted its position in shares of GXO Logistics by 37.2% during the third quarter. Signaturefd LLC now owns 918 shares of the company's stock valued at $48,000 after purchasing an additional 249 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of GXO Logistics by 10.1% during the third quarter. Ballentine Partners LLC now owns 6,127 shares of the company's stock valued at $319,000 after purchasing an additional 561 shares in the last quarter. Arkadios Wealth Advisors bought a new position in shares of GXO Logistics during the third quarter valued at about $291,000. DekaBank Deutsche Girozentrale bought a new stake in GXO Logistics in the third quarter worth about $28,000. Finally, State of Alaska Department of Revenue raised its position in GXO Logistics by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 13,789 shares of the company's stock worth $717,000 after acquiring an additional 940 shares during the period. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GXO has been the topic of several research reports. Oppenheimer lowered their price objective on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 18th. UBS Group lowered their price objective on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Barclays lowered their price objective on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Loop Capital lowered shares of GXO Logistics from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $71.00 to $49.00 in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.62.

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GXO Logistics Price Performance

NYSE:GXO traded down $0.37 during mid-day trading on Friday, hitting $39.38. 1,581,738 shares of the stock traded hands, compared to its average volume of 1,587,891. The business's 50-day moving average price is $43.01 and its 200 day moving average price is $50.14. The company has a market cap of $4.71 billion, a PE ratio of 35.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.60. GXO Logistics, Inc. has a 12-month low of $34.51 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 issued its quarterly earnings data 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%. On average, analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal 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.