12,816 Shares in GXO Logistics, Inc. (NYSE:GXO) Purchased by Tidal Investments LLC

Tidal Investments LLC purchased a new position in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,816 shares of the company's stock, valued at approximately $667,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Eminence Capital LP bought a new position in GXO Logistics in the 2nd quarter valued at about $79,698,000. Spruce House Investment Management LLC increased its stake in GXO Logistics by 827.8% in the second quarter. Spruce House Investment Management LLC now owns 900,000 shares of the company's stock valued at $45,450,000 after acquiring an additional 803,000 shares during 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. Global Alpha Capital Management Ltd. bought a new stake in GXO Logistics during the third quarter worth $32,434,000. Finally, Fort Pitt Capital Group LLC boosted its holdings in shares of GXO Logistics by 30.4% in the 2nd 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. Institutional investors own 90.67% of the company's stock.

GXO Logistics Trading Down 1.9 %

Shares of NYSE GXO traded down $0.80 during midday trading on Friday, reaching $41.96. The stock had a trading volume of 5,186,674 shares, compared to its average volume of 992,860. GXO Logistics, Inc. has a twelve month low of $41.95 and a twelve month high of $63.33. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.86 and a current ratio of 0.86. The company's 50 day moving average price is $57.16 and its 200 day moving average price is $52.83. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 46.62, a price-to-earnings-growth ratio of 1.49 and a beta of 1.52.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.01. GXO Logistics had a return on equity of 10.03% and a net margin of 0.97%. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business posted $0.69 EPS. The business's revenue was up 27.8% compared to the same quarter last year. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.76 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GXO. Citigroup initiated coverage on GXO Logistics in a report on Wednesday, October 9th. They set a "buy" rating and a $60.00 price target for the company. Susquehanna lowered their target price on GXO Logistics from $75.00 to $73.00 and set a "positive" rating for the company in a research note on Thursday, September 26th. UBS Group raised their price target on shares of GXO Logistics from $66.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Barclays lowered their price objective on shares of GXO Logistics from $60.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 4th. Finally, Oppenheimer raised their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.33.

GXO Logistics Company 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.