Deutsche Bank AG Boosts Stock Position in GXO Logistics, Inc. $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 raised its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 210,132 shares of the company's stock after acquiring an additional 17,058 shares during the quarter. Deutsche Bank AG owned approximately 0.18% of GXO Logistics worth $8,212,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC boosted its position in shares of GXO Logistics by 2,460.7% during the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock worth $28,000 after acquiring an additional 689 shares in the last quarter. GAMMA Investing LLC boosted its position 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 in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of GXO Logistics during the 1st quarter worth about $34,000. Quarry LP boosted its position in shares of GXO Logistics by 1,334.9% during the 4th 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. boosted its position in shares of GXO Logistics by 135.6% during the 1st 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. 90.67% of the stock is owned by institutional investors and hedge funds.

GXO Logistics Stock Performance

Shares of NYSE GXO traded down $1.0510 during trading hours on Wednesday, reaching $52.2890. The stock had a trading volume of 1,005,895 shares, compared to its average volume of 1,193,212. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 98.66, a PEG ratio of 1.94 and a beta of 1.64. 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 fifty-two week low of $30.46 and a fifty-two week high of $63.33. The firm has a 50-day moving average of $49.77 and a 200-day moving average of $42.74.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. The firm 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 business's revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS. Equities research analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. 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. 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. 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. Truist Financial raised 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. Finally, Oppenheimer upped their target price on GXO Logistics from $55.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.