GXO Logistics, Inc. $GXO Shares Bought by Gabelli Funds LLC

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 lifted its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 18.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,106 shares of the company's stock after purchasing an additional 4,900 shares during the quarter. Gabelli Funds LLC's holdings in GXO Logistics were worth $1,216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Spruce House Investment Management LLC increased its stake in GXO Logistics by 133.3% in the fourth quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock worth $91,350,000 after purchasing an additional 1,200,000 shares during the period. Alyeska Investment Group L.P. bought a new stake in GXO Logistics during the 4th quarter valued at $46,523,000. Dimensional Fund Advisors LP raised its holdings in shares of GXO Logistics by 29.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,608,468 shares of the company's stock valued at $141,021,000 after acquiring an additional 810,298 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of GXO Logistics by 66.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,819,395 shares of the company's stock valued at $71,102,000 after purchasing an additional 724,535 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in GXO Logistics by 27.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 3,330,176 shares of the company's stock worth $130,143,000 after buying an additional 708,661 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GXO has been the subject of a number of recent analyst reports. UBS Group raised 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. JPMorgan Chase & Co. lifted their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Barclays raised their price objective on GXO Logistics from $45.00 to $52.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Susquehanna lifted their price target on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price target on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.50.

GXO Logistics Stock Performance

NYSE:GXO traded down $0.39 during mid-day trading on Thursday, reaching $50.73. 357,944 shares of the stock were exchanged, compared to its average volume of 1,406,889. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $5.81 billion, a P/E ratio of 95.71, a P/E/G ratio of 2.11 and a beta of 1.65. The company has a 50 day simple moving average of $51.29 and a 200-day simple moving average of $43.44. GXO Logistics, Inc. has a 1 year low of $30.46 and a 1 year high of $63.33.

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 the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. GXO Logistics's revenue for the quarter was up 15.9% on a year-over-year basis. Analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

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.