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

Bank of New York Mellon Corp trimmed its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 5.5% in the first quarter, according to its most recent Form 13F 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 SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new stake in GXO Logistics during the 4th quarter worth about $1,255,000. Swiss National Bank lifted its position in shares of GXO Logistics by 0.7% in the 4th quarter. Swiss National Bank now owns 234,913 shares of the company's stock valued at $10,219,000 after acquiring an additional 1,600 shares in the last quarter. Natixis Advisors LLC boosted its stake in GXO Logistics by 1,106.1% in the 4th quarter. Natixis Advisors LLC now owns 212,171 shares of the company's stock worth $9,229,000 after purchasing an additional 194,580 shares during the period. RD Lewis Holdings Inc. purchased a new position in GXO Logistics during the 4th quarter worth approximately $237,000. Finally, Retirement Planning Co of New England Inc. increased its holdings in shares of GXO Logistics by 13.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 14,916 shares of the company's stock valued at $649,000 after purchasing an additional 1,761 shares during the period. Institutional investors and hedge funds own 90.67% of the company's stock.

GXO Logistics Trading Up 0.1%

GXO Logistics stock traded up $0.04 during mid-day trading on Thursday, hitting $51.58. 421,690 shares of the company's stock were exchanged, compared to its average volume of 1,339,472. The company's 50 day simple moving average is $44.80 and its 200-day simple moving average is $41.59. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $5.90 billion, a P/E ratio of 83.11, a PEG ratio of 1.88 and a beta of 1.64. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly 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. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The business's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on GXO. Citigroup boosted their target price on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Barclays raised their price target on shares of GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their target price on GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on GXO Logistics from $48.00 to $57.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and boosted their price target for the company from $48.00 to $62.00 in a research note on Friday, July 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.43.

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.