Cibc World Markets Corp Sells 300,000 Shares of GXO Logistics, Inc. (NYSE:GXO)

Cibc World Markets Corp reduced its stake in GXO Logistics, Inc. (NYSE:GXO) by 75.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 100,000 shares of the company’s stock after selling 300,000 shares during the quarter. Cibc World Markets Corp’s holdings in GXO Logistics were worth $4,350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GXO. Arizona State Retirement System increased its holdings in shares of GXO Logistics by 0.8% in the 4th quarter. Arizona State Retirement System now owns 34,671 shares of the company’s stock worth $1,508,000 after buying an additional 281 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of GXO Logistics by 33.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after buying an additional 290 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of GXO Logistics by 1.1% in the 4th quarter. Pacer Advisors Inc. now owns 30,815 shares of the company’s stock worth $1,340,000 after buying an additional 338 shares during the last quarter. KBC Group NV increased its holdings in shares of GXO Logistics by 18.6% in the 3rd quarter. KBC Group NV now owns 3,665 shares of the company’s stock worth $191,000 after buying an additional 576 shares during the last quarter. Finally, Stablepoint Partners LLC increased its holdings in shares of GXO Logistics by 4.2% in the 4th quarter. Stablepoint Partners LLC now owns 15,916 shares of the company’s stock worth $692,000 after buying an additional 637 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GXO shares. Deutsche Bank Aktiengesellschaft started coverage on shares of GXO Logistics in a report on Friday, March 7th. They issued a “hold” rating and a $45.00 target price on the stock. Loop Capital downgraded shares of GXO Logistics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Wells Fargo & Company dropped their price target on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Oppenheimer dropped their price target on shares of GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research note on Tuesday, February 18th. Finally, Morgan Stanley dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, GXO Logistics has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.

GXO Logistics Price Performance

GXO Logistics stock opened at $40.82 on Thursday. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 36.44, 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. GXO Logistics, Inc. has a 1 year low of $34.51 and a 1 year high of $63.33. The firm has a 50-day moving average of $41.84 and a two-hundred day moving average of $49.25.

GXO Logistics (NYSE:GXO) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current 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.