Exchange Traded Concepts LLC Buys 61,982 Shares of GXO Logistics, Inc. (NYSE:GXO)

Exchange Traded Concepts LLC boosted its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 28.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,895 shares of the company's stock after purchasing an additional 61,982 shares during the quarter. Exchange Traded Concepts LLC owned about 0.23% of GXO Logistics worth $10,938,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC boosted its stake in GXO Logistics by 28,112.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock worth $114,036,000 after acquiring an additional 2,612,223 shares during the last quarter. Norges Bank bought a new position in shares of GXO Logistics during the fourth quarter worth $55,266,000. Spruce House Investment Management LLC grew its holdings in shares of GXO Logistics by 133.3% in the 4th quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock valued at $91,350,000 after buying an additional 1,200,000 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of GXO Logistics in the 4th quarter valued at $46,523,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of GXO Logistics by 66.2% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock worth $71,102,000 after purchasing an additional 724,535 shares during the period. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Performance

NYSE GXO opened at $42.94 on Monday. The stock has a market cap of $4.91 billion, a PE ratio of 38.34, a P/E/G ratio of 1.34 and a beta of 1.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The firm has a 50-day moving average of $38.56 and a 200-day moving average of $41.41. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The firm 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 1.14% and a return on equity of 11.16%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. On average, sell-side analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on GXO shares. Deutsche Bank Aktiengesellschaft started coverage on GXO Logistics in a report on Friday, March 7th. They issued a "hold" rating and a $45.00 price target on the stock. Citigroup reduced their price target on GXO Logistics from $51.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Truist Financial lowered their price objective on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Finally, Oppenheimer reduced their target price on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating for the company in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $54.57.

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.

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.