Bank of New York Mellon Corp Sells 46,999 Shares of GXO Logistics, Inc. (NYSE:GXO)

Bank of New York Mellon Corp decreased its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 814,070 shares of the company's stock after selling 46,999 shares during the period. Bank of New York Mellon Corp owned about 0.70% of GXO Logistics worth $31,814,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in shares of GXO Logistics by 13.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,243 shares of the company's stock worth $674,000 after purchasing an additional 2,076 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of GXO Logistics by 2.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,679 shares of the company's stock worth $1,512,000 after purchasing an additional 886 shares during the last quarter. KBC Group NV increased its position in shares of GXO Logistics by 20.0% during the 1st quarter. KBC Group NV now owns 5,821 shares of the company's stock worth $227,000 after purchasing an additional 969 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of GXO Logistics by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 274,832 shares of the company's stock worth $10,740,000 after acquiring an additional 831 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after acquiring an additional 302 shares during the last quarter. Institutional investors own 90.67% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on GXO. Susquehanna reaffirmed a "positive" rating and issued a $58.00 price objective (up from $57.00) on shares of GXO Logistics in a report on Tuesday, June 24th. Stifel Nicolaus upped their target price on GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and upped their target price for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Citigroup upped their price objective on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. increased their target price on GXO Logistics from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.43.

GXO Logistics Stock Down 1.9%

GXO Logistics stock traded down $1.00 during mid-day trading on Friday, reaching $50.40. The stock had a trading volume of 744,838 shares, compared to its average volume of 1,344,975. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.78. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33. The stock's 50-day simple moving average is $45.25 and its 200-day simple moving average is $41.69. The firm has a market capitalization of $5.77 billion, a PE ratio of 81.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. GXO Logistics had a return on equity of 10.49% and a net margin of 0.61%. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the company earned $0.45 earnings per share. The company's revenue for the quarter was up 21.2% on a year-over-year basis. On average, sell-side analysts forecast 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.