Gamco Investors INC. ET AL Invests $648,000 in GXO Logistics, Inc. $GXO

Key Points

• Gamco Investors has acquired 16,588 shares of GXO Logistics, Inc. valued at approximately $648,000, marking a new investment by the institutional investor in the first quarter.
• GXO Logistics reported a better-than-expected quarterly EPS of $0.57, beating the consensus estimate of $0.56, while revenues rose 15.9% year-over-year to $3.30 billion.
• Analysts have upgraded their price targets for GXO Logistics, with JPMorgan raising it from $56.00 to $65.00, reflecting a generally optimistic outlook for the company's stock.

Gamco Investors INC. ET AL acquired a new stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 16,588 shares of the company's stock, valued at approximately $648,000.

Several other hedge funds also recently modified their holdings of the stock. State of Michigan Retirement System increased its stake in shares of GXO Logistics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 28,627 shares of the company's stock valued at $1,119,000 after acquiring an additional 300 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of GXO Logistics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company's stock valued at $1,309,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of GXO Logistics by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 14,004 shares of the company's stock valued at $547,000 after acquiring an additional 380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after acquiring an additional 396 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Down 0.6%

Shares of NYSE:GXO traded down $0.31 during trading on Wednesday, reaching $50.94. 254,220 shares of the stock traded hands, compared to its average volume of 1,411,704. The stock has a market cap of $5.83 billion, a P/E ratio of 96.11, a price-to-earnings-growth ratio of 2.11 and a beta of 1.65. The stock has a 50-day moving average of $51.23 and a two-hundred day moving average of $43.39. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter last year, the company posted $0.55 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup upped their target price on shares of GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Stifel Nicolaus boosted their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group lifted their target price on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company increased their price objective on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $59.50.

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.