Exchange Traded Concepts LLC Sells 40,038 Shares of GXO Logistics, Inc. $GXO

Key Points

• Exchange Traded Concepts LLC reduced its stake in GXO Logistics by 14.3%, selling 40,038 shares, leaving it with 239,857 shares valued at approximately $11.7 million.
• Several institutional investors increased their positions in GXO, with Larson Financial Group LLC raising their stake by an impressive 2,460.7% in the first quarter.
• GXO Logistics reported a quarterly earnings per share of $0.57, which exceeded analysts' estimates of $0.56, alongside a year-over-year revenue increase of 15.9% to $3.30 billion.

Exchange Traded Concepts LLC lowered its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 14.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 239,857 shares of the company's stock after selling 40,038 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.21% of GXO Logistics worth $11,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GXO. Larson Financial Group LLC increased its stake in shares of GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after buying an additional 689 shares during the period. GAMMA Investing LLC boosted its holdings in GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in GXO Logistics during the 1st quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of GXO Logistics by 72.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock worth $37,000 after buying an additional 396 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of GXO Logistics by 63.2% during the first quarter. Covestor Ltd now owns 1,645 shares of the company's stock worth $64,000 after buying an additional 637 shares during the last quarter. Institutional investors own 90.67% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on GXO. Stifel Nicolaus lifted their target price on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and increased their target price for the company from $48.00 to $62.00 in a research note on Friday, July 11th. UBS Group raised their target price on GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wells Fargo & Company upped their price target on GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Stock Performance

Shares of GXO opened at $51.11 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. GXO Logistics, Inc. has a twelve month low of $30.46 and a twelve month high of $63.33. The firm's 50 day moving average price is $51.55 and its two-hundred day moving average price is $44.30. The firm has a market cap of $5.85 billion, a P/E ratio of 96.44, a PEG ratio of 2.03 and a beta of 1.65.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business posted $0.55 earnings per share. The firm's quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts forecast that GXO Logistics, Inc. will post 2.49 EPS 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.

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.