Amundi Sells 21,095 Shares of GXO Logistics, Inc. $GXO

Key Points

• Amundi has reduced its stake in GXO Logistics by 30.5% in the first quarter, now holding 48,092 shares valued at approximately $1.88 million.
• Several institutional investors, including Deutsche Bank and Nuveen Asset Management, have increased their positions in GXO Logistics during the fourth quarter.
• GXO Logistics reported a $0.57 earnings per share for the last quarter, exceeding analyst expectations, with revenue increasing by 15.9% year-over-year.

Amundi reduced its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 30.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,092 shares of the company's stock after selling 21,095 shares during the period. Amundi's holdings in GXO Logistics were worth $1,880,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC grew 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 acquiring an additional 689 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of GXO Logistics by 57.0% during the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after buying an additional 302 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of GXO Logistics during the first quarter valued at $34,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of GXO Logistics by 72.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after buying an additional 396 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of GXO Logistics by 63.2% during the first quarter. Covestor Ltd now owns 1,645 shares of the company's stock valued at $64,000 after buying an additional 637 shares during the last quarter. 90.67% of the stock is owned by hedge funds and other institutional investors.

GXO Logistics Stock Performance

NYSE:GXO traded up $0.63 on Thursday, hitting $51.11. The stock had a trading volume of 744,240 shares, compared to its average volume of 841,411. The business's 50-day simple moving average is $51.55 and its two-hundred day simple moving average is $44.30. 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, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 96.44, a price-to-earnings-growth ratio of 2.03 and a beta of 1.65.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on GXO. Barclays increased their price objective on GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Stifel Nicolaus increased their price objective on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Citigroup increased their price objective on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. UBS Group increased their price objective on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Susquehanna increased their price objective on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold 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 $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.