Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,975 shares of the company's stock after selling 7,056 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in GXO Logistics were worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GXO. Vaughan Nelson Investment Management L.P. bought a new stake in GXO Logistics during the fourth quarter valued at approximately $47,626,000. Global Alpha Capital Management Ltd. purchased a new position in shares of GXO Logistics during the third quarter worth approximately $32,434,000. Brown Brothers Harriman & Co. raised its stake in shares of GXO Logistics by 105.0% during the third quarter. Brown Brothers Harriman & Co. now owns 968,267 shares of the company's stock worth $50,418,000 after acquiring an additional 495,829 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of GXO Logistics during the fourth quarter worth approximately $20,905,000. Finally, Life Planning Partners Inc raised its stake in shares of GXO Logistics by 4,250.0% during the fourth quarter. Life Planning Partners Inc now owns 263,393 shares of the company's stock worth $11,458,000 after acquiring an additional 257,338 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GXO has been the topic of several research reports. Oppenheimer decreased their price target on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their target price on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a research note on Friday, March 7th. They issued a "hold" rating and a $45.00 target price on the stock. Morgan Stanley decreased their target price on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, UBS Group decreased their target price on shares of GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.60.

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GXO Logistics Stock Performance

NYSE:GXO traded down $0.13 during mid-day trading on Thursday, reaching $40.72. The company's stock had a trading volume of 1,133,090 shares, compared to its average volume of 1,145,324. GXO Logistics, Inc. has a 12-month low of $34.51 and a 12-month high of $63.33. The firm's fifty day moving average price is $41.84 and its two-hundred day moving average price is $49.25. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.83. The stock has a market cap of $4.87 billion, a P/E ratio of 36.35, a PEG ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.14% and a return on equity of 11.16%. On average, equities analysts forecast that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

GXO Logistics 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.