Alliancebernstein L.P. Acquires 2,356,452 Shares of GXO Logistics, Inc. $GXO

Key Points

• Alliancebernstein L.P. significantly increased its holdings in GXO Logistics, Inc. by 1,521.9%, acquiring a total of 2,511,289 shares valued at approximately $98.1 million.
• GXO Logistics reported earnings per share of $0.57 for the last quarter, surpassing analysts' expectations and showcasing a 15.9% year-over-year revenue growth.
• A majority of analysts give GXO Logistics a consensus rating of "Moderate Buy" with a target price averaging around $59.50, indicating potential growth in stock value.

Alliancebernstein L.P. lifted its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 1,521.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,511,289 shares of the company's stock after purchasing an additional 2,356,452 shares during the quarter. Alliancebernstein L.P. owned about 2.19% of GXO Logistics worth $98,141,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Spruce House Investment Management LLC increased its position in GXO Logistics by 133.3% during the fourth quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock valued at $91,350,000 after acquiring an additional 1,200,000 shares during the last quarter. Orbis Allan Gray Ltd lifted its holdings in shares of GXO Logistics by 6.5% in the 1st quarter. Orbis Allan Gray Ltd now owns 13,473,172 shares of the company's stock worth $526,532,000 after acquiring an additional 818,353 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of GXO Logistics by 29.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock worth $141,021,000 after purchasing an additional 810,298 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in GXO Logistics by 66.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock valued at $71,102,000 after purchasing an additional 724,535 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in GXO Logistics by 27.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock worth $130,143,000 after purchasing an additional 708,661 shares during the period. Institutional investors own 90.67% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GXO. UBS Group boosted their target price on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Stifel Nicolaus raised their price target on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Oppenheimer upped their price objective on GXO Logistics from $55.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Citigroup increased their target price on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company boosted their target price on shares of GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, GXO Logistics has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Trading Up 2.5%

NYSE:GXO traded up $1.24 during midday trading on Thursday, hitting $51.59. The stock had a trading volume of 1,050,398 shares, compared to its average volume of 872,943. The stock has a 50-day moving average of $51.53 and a 200 day moving average of $43.92. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 97.34, a PEG ratio of 2.02 and a beta of 1.65. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.33. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results 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 business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the previous year, the company posted $0.55 EPS. GXO Logistics's revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts forecast that GXO Logistics, Inc. will post 2.49 EPS 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.