Summitry LLC Grows Position in GXO Logistics, Inc. (NYSE:GXO)

Summitry LLC grew its position in shares of GXO Logistics, Inc. (NYSE:GXO) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 659,872 shares of the company’s stock after buying an additional 13,537 shares during the quarter. GXO Logistics accounts for approximately 1.4% of Summitry LLC’s investment portfolio, making the stock its 27th biggest holding. Summitry LLC owned 0.55% of GXO Logistics worth $28,704,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of GXO. Murphy & Mullick Capital Management Corp bought a new stake in GXO Logistics in the 4th quarter valued at about $41,000. R Squared Ltd purchased a new stake in shares of GXO Logistics in the 4th quarter valued at about $54,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of GXO Logistics by 33.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,160 shares of the company’s stock worth $60,000 after purchasing an additional 290 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised 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 purchasing an additional 933 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in GXO Logistics by 33.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company’s stock valued at $60,000 after purchasing an additional 348 shares during the last quarter. 90.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on GXO. Truist Financial assumed coverage on shares of GXO Logistics in a report on Thursday, March 13th. They issued a “hold” rating and a $40.00 price target on the stock. UBS Group reduced their target price on GXO Logistics from $72.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Barclays dropped their price target on GXO Logistics from $52.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group reduced their price objective on GXO Logistics from $63.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Oppenheimer dropped their target price on GXO Logistics from $67.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, February 18th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.60.

GXO Logistics Stock Down 0.6 %

Shares of NYSE GXO opened at $40.26 on Wednesday. The firm’s fifty day moving average is $41.59 and its 200 day moving average is $49.02. GXO Logistics, Inc. has a 52 week low of $34.51 and a 52 week high of $63.33. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 35.95, a PEG ratio of 1.34 and a beta of 1.62.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 research analysts expect 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.