Baird Financial Group Inc. Acquires New Stake in GXO Logistics, Inc. $GXO

Key Points

• Baird Financial Group Inc. has invested approximately $271,000 in GXO Logistics by purchasing 6,946 shares during the first quarter of the year.
• Analysts are bullish on GXO Logistics, with multiple brokerages raising their price targets and giving the company an average rating of "Moderate Buy" with a consensus target price of $59.50.
• GXO Logistics reported $0.57 earnings per share for the last quarter, exceeding expectations, along with a 15.9% increase in quarterly revenue year-over-year.

Baird Financial Group Inc. bought a new stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,946 shares of the company's stock, valued at approximately $271,000.

A number of other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC boosted its position in GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock worth $28,000 after purchasing an additional 689 shares in the last quarter. GAMMA Investing LLC boosted its position in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after purchasing an additional 302 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in GXO Logistics in the 1st quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. boosted its position in GXO Logistics by 72.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock worth $37,000 after purchasing an additional 396 shares in the last quarter. Finally, Covestor Ltd boosted its position in GXO Logistics by 63.2% in the 1st quarter. Covestor Ltd now owns 1,645 shares of the company's stock worth $64,000 after purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 90.67% of the company's stock.

GXO Logistics Price Performance

Shares of NYSE:GXO traded down $0.35 during midday trading on Wednesday, reaching $50.49. 744,722 shares of the company's stock traded hands, compared to its average volume of 854,469. The company has a fifty day simple moving average of $51.56 and a two-hundred day simple moving average of $44.21. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year 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 company has a market cap of $5.78 billion, a P/E ratio of 95.26, a PEG ratio of 2.04 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, beating 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 during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $0.55 EPS. The firm's revenue was up 15.9% compared to the same quarter last year. Equities analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GXO shares. Barclays upped their price objective on GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Susquehanna upped their price objective on GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $48.00 to $62.00 in a research report on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company increased their target price on GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Ten research 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.50.

GXO Logistics Profile

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.