Belpointe Asset Management LLC Has $249,000 Position in GXO Logistics, Inc. (NYSE:GXO)

Belpointe Asset Management LLC raised its stake in GXO Logistics, Inc. (NYSE:GXO) by 8.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,728 shares of the company’s stock after acquiring an additional 470 shares during the period. Belpointe Asset Management LLC’s holdings in GXO Logistics were worth $249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GXO. Mariner LLC increased its position in GXO Logistics by 9.7% during the 4th quarter. Mariner LLC now owns 7,367 shares of the company’s stock valued at $320,000 after purchasing an additional 653 shares during the period. Barclays PLC increased its position in shares of GXO Logistics by 70.1% during the fourth quarter. Barclays PLC now owns 106,404 shares of the company’s stock worth $4,629,000 after buying an additional 43,859 shares during the period. Sterling Capital Management LLC raised its stake in GXO Logistics by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 6,957 shares of the company’s stock worth $303,000 after buying an additional 2,482 shares during the last quarter. Concorde Asset Management LLC acquired a new position in GXO Logistics in the fourth quarter valued at $722,000. Finally, Quinn Opportunity Partners LLC bought a new stake in GXO Logistics during the fourth quarter valued at $783,000. Institutional investors and hedge funds own 90.67% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Loop Capital downgraded GXO Logistics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $71.00 to $49.00 in a research note on Monday, February 3rd. UBS Group reduced their price objective on shares of GXO Logistics from $72.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a research report on Friday, March 7th. They set a “hold” rating and a $45.00 target price on the stock. Barclays reduced their price target on shares of GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, GXO Logistics presently has an average rating of “Moderate Buy” and a consensus price target of $54.93.

GXO Logistics Trading Up 1.7 %

NYSE:GXO opened at $33.89 on Friday. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The firm has a 50-day moving average price of $38.20 and a two-hundred day moving average price of $47.08. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83.

GXO Logistics (NYSE:GXO) last posted 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 return on equity of 11.16% and a net margin of 1.14%. On average, equities analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

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.