GXO Logistics, Inc. $GXO Position Increased by 683 Capital Management LLC

Key Points

• 683 Capital Management LLC increased its stake in GXO Logistics by 46.2% during Q1, owning 950,000 shares valued at approximately $37.13 million.
• A number of institutional investors also boosted their holdings in GXO, with the company now being controlled by 90.67% of institutional ownership.
• Analysts have set positive price targets for GXO Logistics, raising expectations to an average of $59.50, with recommendations leaning towards a Moderate Buy rating.

683 Capital Management LLC boosted its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 46.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 950,000 shares of the company's stock after purchasing an additional 300,000 shares during the quarter. GXO Logistics comprises about 2.6% of 683 Capital Management LLC's investment portfolio, making the stock its 2nd largest position. 683 Capital Management LLC owned about 0.83% of GXO Logistics worth $37,126,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mariner LLC increased its stake in GXO Logistics by 9.7% in the 4th quarter. Mariner LLC now owns 7,367 shares of the company's stock worth $320,000 after buying an additional 653 shares during the period. Northern Trust Corp boosted its holdings in shares of GXO Logistics by 23.6% in the 4th quarter. Northern Trust Corp now owns 1,005,232 shares of the company's stock valued at $43,728,000 after buying an additional 191,648 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of GXO Logistics by 79.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 46,069 shares of the company's stock valued at $2,004,000 after buying an additional 20,446 shares in the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of GXO Logistics in the 4th quarter valued at about $439,000. Finally, Algert Global LLC boosted its stake in GXO Logistics by 83.3% in the 4th quarter. Algert Global LLC now owns 191,779 shares of the company's stock worth $8,342,000 after purchasing an additional 87,148 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Up 2.3%

Shares of GXO traded up $1.18 during mid-day trading on Friday, hitting $52.56. 928,941 shares of the company's stock were exchanged, compared to its average volume of 906,521. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 99.18, a P/E/G ratio of 2.06 and a beta of 1.65. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two 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. The stock's 50-day moving average is $51.43 and its 200-day moving average is $43.61.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly 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 business had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business's quarterly revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on GXO. Wells Fargo & Company raised their price target on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Citigroup lifted their price target on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Susquehanna upped their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. UBS Group boosted their price target on shares of GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Oppenheimer boosted their price target on shares of GXO Logistics from $55.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus 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.