Victory Capital Management Inc. Sells 85,158 Shares of GXO Logistics, Inc. (NYSE:GXO)

Victory Capital Management Inc. trimmed its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 76.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,555 shares of the company's stock after selling 85,158 shares during the period. Victory Capital Management Inc.'s holdings in GXO Logistics were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in GXO Logistics in the fourth quarter valued at about $54,000. Nomura Asset Management Co. Ltd. grew its stake in GXO Logistics by 33.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company's stock valued at $60,000 after acquiring an additional 290 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in GXO Logistics by 213.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,370 shares of the company's stock valued at $60,000 after acquiring an additional 933 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in GXO Logistics in the third quarter valued at about $71,000. Finally, Brooklyn Investment Group bought a new stake in shares of GXO Logistics in the third quarter valued at about $106,000. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Price Performance

NYSE GXO traded down $0.31 on Friday, hitting $40.39. 1,929,384 shares of the company's stock were exchanged, compared to its average volume of 1,150,589. The stock has a 50-day moving average of $41.70 and a 200-day moving average of $49.12. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a 52 week low of $34.51 and a 52 week high of $63.33. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 1.34 and a beta of 1.62.

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GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share for the quarter, topping 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%. Analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial assumed coverage on GXO Logistics in a report on Thursday, March 13th. They issued a "hold" rating and a $40.00 price target on the stock. Wells Fargo & Company cut their price target on GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Morgan Stanley cut their price target on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Oppenheimer cut their price target on GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on GXO Logistics in a report on Friday, March 7th. They issued a "hold" rating and a $45.00 price target on the stock. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.