Deutsche Bank AG Buys 17,058 Shares of GXO Logistics, Inc. (NYSE:GXO)

Key Points

• Deutsche Bank AG increased its stake in GXO Logistics by 8.8%, acquiring an additional 17,058 shares and bringing its total ownership to 210,132 shares valued at approximately $8,212,000.
• Institutional investors hold 90.67% of GXO's stock, with several funds showing significant increases in their holdings during the first quarter of 2023.
• Brokerages are optimistic about GXO Logistics, with price targets increasing significantly; Barclays set a target of $52, while Wells Fargo and UBS raised theirs to $60 and $58, respectively.

Deutsche Bank AG boosted its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 8.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,132 shares of the company's stock after purchasing an additional 17,058 shares during the quarter. Deutsche Bank AG owned about 0.18% of GXO Logistics worth $8,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after purchasing an additional 689 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after acquiring an additional 302 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of GXO Logistics in the first quarter worth about $34,000. Quarry LP increased its holdings in shares of GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock worth $54,000 after acquiring an additional 1,148 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of GXO Logistics by 135.6% in the first quarter. UMB Bank n.a. now owns 1,762 shares of the company's stock worth $69,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GXO. Barclays increased their price target on GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Wells Fargo & Company upped their price objective on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. UBS Group upped their price objective on GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and increased their price target for the company from $48.00 to $62.00 in a research report on Friday, July 11th. Finally, Susquehanna increased their price target on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $59.50.

GXO Logistics Stock Performance

Shares of NYSE GXO opened at $52.55 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a 12 month low of $30.46 and a 12 month high of $63.33. The stock has a 50 day moving average of $49.21 and a 200-day moving average of $42.59. The company has a market capitalization of $6.02 billion, a P/E ratio of 99.15, a P/E/G ratio of 1.95 and a beta of 1.64.

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

GXO Logistics Company 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.

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.