BNP Paribas Financial Markets Makes New Investment in GXO Logistics, Inc. (NYSE:GXO)

BNP Paribas Financial Markets purchased a new stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 86,101 shares of the company's stock, valued at approximately $3,745,000. BNP Paribas Financial Markets owned approximately 0.07% of GXO Logistics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of GXO Logistics by 28,112.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock valued at $114,036,000 after purchasing an additional 2,612,223 shares in the last quarter. Norges Bank bought a new position in shares of GXO Logistics during the fourth quarter valued at $55,266,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of GXO Logistics during the fourth quarter valued at $47,626,000. Alyeska Investment Group L.P. bought a new position in shares of GXO Logistics during the fourth quarter valued at $46,523,000. Finally, River Road Asset Management LLC lifted its holdings in shares of GXO Logistics by 53.5% during the fourth quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company's stock valued at $87,355,000 after purchasing an additional 699,636 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

GXO Logistics Stock Up 0.6%

Shares of NYSE:GXO traded up $0.27 on Tuesday, reaching $42.05. The company had a trading volume of 45,469 shares, compared to its average volume of 1,270,283. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The firm's 50 day simple moving average is $37.51 and its 200-day simple moving average is $43.82. The firm has a market capitalization of $4.81 billion, a PE ratio of 37.54, a PEG ratio of 1.34 and a beta of 1.56. 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 (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The company had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.94 billion. GXO Logistics had a return on equity of 11.16% and a net margin of 1.14%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GXO has been the topic of a number of research analyst reports. Oppenheimer lowered 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. Citigroup dropped their target price on GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley dropped their target price on GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Truist Financial cut their price objective on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, Loop Capital cut GXO Logistics from a "buy" rating to a "hold" rating and reduced their price target for the stock from $71.00 to $49.00 in a research report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.57.

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.