AMI Asset Management Corp Decreases Stock Holdings in GXO Logistics, Inc. $GXO

Key Points

• AMI Asset Management Corp has decreased its holdings in GXO Logistics by 40.7%, selling 10,736 shares and retaining 15,659 shares worth approximately $763,000.
• Several hedge funds have recently increased their positions in GXO Logistics, with Larson Financial Group raising its stake significantly by 2,460.7%.
• Analysts are optimistic about GXO, with multiple firms upping their price targets, including Oppenheimer and JPMorgan, reflecting a general consensus of Moderate Buy with an average price target of $60.50.

AMI Asset Management Corp trimmed its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 40.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,659 shares of the company's stock after selling 10,736 shares during the quarter. AMI Asset Management Corp's holdings in GXO Logistics were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in shares of GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company's stock worth $28,000 after buying an additional 689 shares during the period. GAMMA Investing LLC increased its position in GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after purchasing an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new position in GXO Logistics during the 1st quarter valued at $34,000. Northwestern Mutual Wealth Management Co. increased its position in GXO Logistics by 72.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after purchasing an additional 396 shares during the period. Finally, Covestor Ltd increased its position in GXO Logistics by 63.2% during the 1st quarter. Covestor Ltd now owns 1,645 shares of the company's stock valued at $64,000 after purchasing an additional 637 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GXO has been the topic of a number of research analyst reports. Oppenheimer boosted their price objective 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. Truist Financial raised shares of GXO Logistics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Wells Fargo & Company boosted their price objective on shares of GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Citigroup boosted their price objective on shares of GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, GXO Logistics currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

GXO Logistics Stock Up 0.5%

NYSE:GXO opened at $53.15 on Thursday. The firm's 50-day moving average price is $51.64 and its 200-day moving average price is $45.14. The company has a market capitalization of $6.08 billion, a PE ratio of 100.29, a P/E/G ratio of 2.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.76 and a quick ratio of 0.76. GXO Logistics, Inc. has a 1-year low of $30.46 and a 1-year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company's revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, equities analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal 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.

Want to see what other hedge funds are holding GXO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GXO Logistics, Inc. (NYSE:GXO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.