Primecap Management Co. CA Decreases Holdings in GXO Logistics, Inc. (NYSE:GXO)

Primecap Management Co. CA cut its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 216,500 shares of the company's stock after selling 13,000 shares during the period. Primecap Management Co. CA owned approximately 0.18% of GXO Logistics worth $9,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in GXO Logistics during the 4th quarter worth approximately $54,000. Nomura Asset Management Co. Ltd. boosted its position in shares of 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 buying an additional 290 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of 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 buying an additional 933 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in GXO Logistics during the third quarter worth $71,000. Finally, Brooklyn Investment Group purchased a new stake in GXO Logistics in the 3rd quarter valued at $106,000. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Price Performance

Shares of GXO stock traded up $0.18 on Monday, reaching $40.55. The company's stock had a trading volume of 1,368,890 shares, compared to its average volume of 1,151,462. The company has a market capitalization of $4.85 billion, a P/E ratio of 36.20, a PEG ratio of 1.34 and a beta of 1.62. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The stock's 50 day simple moving average is $41.70 and its 200-day simple moving average is $49.13. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83.

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GXO Logistics (NYSE:GXO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. As a group, equities analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GXO. UBS Group cut their price objective on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $66.00 price objective (down from $74.00) on shares of GXO Logistics in a research report on Friday, February 14th. Morgan Stanley decreased their price objective on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Loop Capital lowered GXO Logistics from a "buy" rating to a "hold" rating and dropped their price target for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.60.

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.