11,670 Shares in GXO Logistics, Inc. $GXO Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. purchased a new position in GXO Logistics, Inc. (NYSE:GXO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,670 shares of the company's stock, valued at approximately $568,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Ethic Inc. lifted its stake in GXO Logistics by 147.5% during the second quarter. Ethic Inc. now owns 15,258 shares of the company's stock worth $748,000 after purchasing an additional 9,094 shares during the last quarter. Stephens Inc. AR purchased a new stake in GXO Logistics during the second quarter worth approximately $233,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in GXO Logistics during the second quarter worth approximately $260,000. William Blair Investment Management LLC lifted its stake in GXO Logistics by 52.3% during the second quarter. William Blair Investment Management LLC now owns 530,999 shares of the company's stock worth $25,860,000 after purchasing an additional 182,338 shares during the last quarter. Finally, Bridges Investment Management Inc. lifted its stake in GXO Logistics by 15.3% during the second quarter. Bridges Investment Management Inc. now owns 17,842 shares of the company's stock worth $869,000 after purchasing an additional 2,370 shares during the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GXO shares. The Goldman Sachs Group upgraded GXO Logistics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $52.00 to $68.00 in a research note on Wednesday, September 24th. Oppenheimer boosted their target price on GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company boosted their target price on GXO Logistics from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 6th. UBS Group boosted their target price on GXO Logistics from $58.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on GXO Logistics from $65.00 to $66.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.57.

GXO Logistics Price Performance

Shares of NYSE GXO opened at $54.62 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $62.28. The stock has a 50 day moving average of $52.69 and a two-hundred day moving average of $47.04. The stock has a market cap of $6.25 billion, a P/E ratio of 103.05, a P/E/G ratio of 2.23 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%.The company had revenue of $3.30 billion during the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current 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.

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