Proficio Capital Partners LLC Invests $1.26 Million in GXO Logistics, Inc. (NYSE:GXO)

Proficio Capital Partners LLC bought a new position in GXO Logistics, Inc. (NYSE:GXO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,841 shares of the company's stock, valued at approximately $1,255,000.

A number of other hedge funds have also modified their holdings of GXO. Stifel Financial Corp boosted its position in shares of GXO Logistics by 95.8% in the 3rd quarter. Stifel Financial Corp now owns 76,045 shares of the company's stock valued at $3,960,000 after purchasing an additional 37,197 shares during the period. Douglas Lane & Associates LLC increased its position in shares of GXO Logistics by 6.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 480,553 shares of the company's stock worth $20,904,000 after acquiring an additional 31,015 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of GXO Logistics by 2.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 502,273 shares of the company's stock valued at $26,153,000 after acquiring an additional 12,208 shares during the period. Tidal Investments LLC purchased a new stake in shares of GXO Logistics in the 3rd quarter valued at approximately $667,000. Finally, Barclays PLC boosted its stake in GXO Logistics by 28.9% in the 3rd quarter. Barclays PLC now owns 62,545 shares of the company's stock worth $3,256,000 after purchasing an additional 14,020 shares during the period. 90.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GXO. Truist Financial assumed coverage on shares of GXO Logistics in a research note on Thursday, March 13th. They set a "hold" rating and a $40.00 target price on the stock. The Goldman Sachs Group dropped their price target on GXO Logistics from $63.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Loop Capital lowered GXO Logistics from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $71.00 to $49.00 in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 price target for the company. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.60.

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GXO Logistics Stock Performance

GXO traded up $0.18 on Monday, hitting $40.55. The company had a trading volume of 1,368,890 shares, compared to its average volume of 1,151,462. GXO Logistics, Inc. has a 1-year low of $34.51 and a 1-year high of $63.33. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of 36.20, a price-to-earnings-growth ratio of 1.34 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The company's fifty day moving average price is $41.70 and its 200 day moving average price is $49.13.

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

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.