Edgestream Partners L.P. Takes $694,000 Position in GXO Logistics, Inc. (NYSE:GXO)

Edgestream Partners L.P. bought a new stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,750 shares of the company's stock, valued at approximately $694,000.

Other hedge funds have also recently made changes to their positions in the company. State of Michigan Retirement System lifted its stake in GXO Logistics by 1.1% in the first quarter. State of Michigan Retirement System now owns 28,627 shares of the company's stock worth $1,119,000 after purchasing an additional 300 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in GXO Logistics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company's stock worth $1,309,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 302 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in GXO Logistics by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock worth $2,245,000 after purchasing an additional 330 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in GXO Logistics by 33.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock worth $60,000 after purchasing an additional 348 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GXO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of GXO Logistics from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Stifel Nicolaus raised their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Susquehanna reaffirmed a "positive" rating and set a $58.00 target price (up from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Barclays raised their target price on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company raised their target price on shares of GXO Logistics from $48.00 to $57.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

GXO Logistics Price Performance

Shares of GXO opened at $50.40 on Friday. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 81.29, a price-to-earnings-growth ratio of 1.84 and a beta of 1.64. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. 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 company has a 50 day moving average of $45.25 and a two-hundred day moving average of $41.68.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.03. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.94 billion. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. GXO Logistics's revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned $0.45 earnings per share. As a group, analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal 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.

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