Spruce House Investment Management LLC Raises Holdings in GXO Logistics, Inc. (NYSE:GXO)

Spruce House Investment Management LLC increased its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 827.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 900,000 shares of the company's stock after buying an additional 803,000 shares during the period. GXO Logistics accounts for 3.0% of Spruce House Investment Management LLC's holdings, making the stock its 6th largest position. Spruce House Investment Management LLC owned 0.75% of GXO Logistics worth $45,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GXO. Vanguard Group Inc. raised its position in GXO Logistics by 0.7% during the first quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company's stock valued at $603,636,000 after purchasing an additional 82,485 shares in the last quarter. American Century Companies Inc. raised its position in GXO Logistics by 25.2% during the second quarter. American Century Companies Inc. now owns 3,221,818 shares of the company's stock valued at $162,702,000 after purchasing an additional 648,547 shares in the last quarter. Clearbridge Investments LLC raised its position in GXO Logistics by 0.5% during the first quarter. Clearbridge Investments LLC now owns 2,956,981 shares of the company's stock valued at $158,967,000 after purchasing an additional 15,463 shares in the last quarter. Fort Pitt Capital Group LLC raised its position in GXO Logistics by 30.4% during the second quarter. Fort Pitt Capital Group LLC now owns 2,416,606 shares of the company's stock valued at $122,039,000 after purchasing an additional 563,057 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in GXO Logistics by 11.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,398,933 shares of the company's stock valued at $121,140,000 after purchasing an additional 240,766 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Trading Down 0.9 %

Shares of GXO Logistics stock traded down $0.45 during trading on Wednesday, hitting $51.04. The company's stock had a trading volume of 976,727 shares, compared to its average volume of 832,823. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.86. GXO Logistics, Inc. has a 52 week low of $46.07 and a 52 week high of $63.07. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 36.72, a price-to-earnings-growth ratio of 1.55 and a beta of 1.58. The stock has a 50-day moving average price of $50.60 and a two-hundred day moving average price of $50.51.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.73 billion. GXO Logistics had a return on equity of 9.86% and a net margin of 1.35%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 EPS. Equities research analysts anticipate that GXO Logistics, Inc. will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of GXO Logistics in a report on Friday, June 7th. They set an "overweight" rating and a $58.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, July 9th. Finally, UBS Group lowered their price target on shares of GXO Logistics from $71.00 to $66.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.45.

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.