Raymond James & Associates Purchases 65,534 Shares of GXO Logistics, Inc. (NYSE:GXO)

Raymond James & Associates boosted its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 466,749 shares of the company's stock after purchasing an additional 65,534 shares during the period. Raymond James & Associates owned 0.39% of GXO Logistics worth $24,304,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GXO. UMB Bank n.a. boosted its holdings in shares of GXO Logistics by 111.4% in the 3rd quarter. UMB Bank n.a. now owns 628 shares of the company's stock valued at $33,000 after buying an additional 331 shares during the last quarter. Mather Group LLC. grew its position in shares of GXO Logistics by 170.7% in the 2nd quarter. Mather Group LLC. now owns 1,110 shares of the company's stock valued at $60,000 after acquiring an additional 700 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of GXO Logistics by 920.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,276 shares of the company's stock worth $64,000 after purchasing an additional 1,151 shares during the last quarter. Motco increased its stake in shares of GXO Logistics by 2,836.4% during the 1st quarter. Motco now owns 1,292 shares of the company's stock worth $69,000 after purchasing an additional 1,248 shares during the last quarter. Finally, Smithfield Trust Co raised its holdings in shares of GXO Logistics by 16.5% in the 1st quarter. Smithfield Trust Co now owns 1,378 shares of the company's stock valued at $73,000 after purchasing an additional 195 shares during the period. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Performance

NYSE:GXO traded down $0.84 during mid-day trading on Friday, reaching $61.12. 1,702,008 shares of the company's stock were exchanged, compared to its average volume of 915,454. GXO Logistics, Inc. has a one year low of $46.07 and a one year high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.86 and a current ratio of 0.86. The business's fifty day simple moving average is $52.54 and its two-hundred day simple moving average is $51.31. The firm has a market capitalization of $7.30 billion, a PE ratio of 44.58, a price-to-earnings-growth ratio of 1.52 and a beta of 1.59.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The business had revenue of $2.85 billion for 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 firm'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 business posted $0.70 earnings per share. Analysts anticipate that GXO Logistics, Inc. will post 2.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GXO has been the topic of a number of recent analyst reports. UBS Group lowered their price target on GXO Logistics from $71.00 to $66.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Citigroup started coverage on GXO Logistics in a report on Wednesday, October 9th. They set a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. raised their price target on GXO Logistics from $61.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, July 9th. Finally, Susquehanna decreased their price objective on shares of GXO Logistics from $75.00 to $73.00 and set a "positive" rating on the stock in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.91.

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.