Gabelli Funds LLC Grows Holdings in GXO Logistics, Inc. $GXO

Key Points

• Gabelli Funds LLC raised its stake in GXO Logistics by 18.7%, now owning over 31,100 shares valued at approximately $1.22 million.
• Several institutional investors have significantly increased their positions in GXO, with 90.67% of the stock owned by hedge funds and institutional investors.
• Wall Street analysts have raised their price targets for GXO Logistics, with an average target of $59.50 and ten analysts giving the stock a Buy rating.

Gabelli Funds LLC boosted its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 18.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,106 shares of the company's stock after acquiring an additional 4,900 shares during the period. Gabelli Funds LLC's holdings in GXO Logistics were worth $1,216,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings 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 valued at $28,000 after buying an additional 689 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of GXO Logistics by 57.0% during the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after buying an additional 302 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of GXO Logistics during the 1st quarter valued at $34,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of GXO Logistics by 72.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after buying an additional 396 shares in the last quarter. Finally, Covestor Ltd increased its position in GXO Logistics by 63.2% during the 1st quarter. Covestor Ltd now owns 1,645 shares of the company's stock valued at $64,000 after buying an additional 637 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GXO shares. Barclays raised their price objective on GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Oppenheimer upped their price target on shares of GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. UBS Group upped their price target on shares of GXO Logistics from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on shares of GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus upped their price target on shares of GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $59.50.

GXO Logistics Stock Performance

Shares of GXO stock traded up $0.48 on Friday, reaching $51.86. The stock had a trading volume of 384,248 shares, compared to its average volume of 1,403,846. The stock has a market cap of $5.94 billion, a P/E ratio of 97.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.65. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. The company has a 50 day simple moving average of $51.36 and a 200 day simple moving average of $43.53.

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

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.