GXO Logistics, Inc. $GXO Stock Position Raised by Orbis Allan Gray Ltd

Key Points

• Orbis Allan Gray Ltd increased its stake in GXO Logistics by 6.5%, making it the firm's 7th largest investment, with a total ownership of approximately 11.51% of the company.
• GXO Logistics reported earnings of $0.57 per share, surpassing estimates, with a 15.9% year-over-year revenue growth to $3.30 billion.
• Wall Street analysts remain optimistic, with a majority rating the stock as a "Moderate Buy" and raising target prices, the average now at $59.50.

Orbis Allan Gray Ltd lifted its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,473,172 shares of the company's stock after purchasing an additional 818,353 shares during the quarter. GXO Logistics comprises 3.0% of Orbis Allan Gray Ltd's holdings, making the stock its 7th largest position. Orbis Allan Gray Ltd owned approximately 11.51% of GXO Logistics worth $526,532,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GXO. Mariner LLC raised its stake in shares of GXO Logistics by 9.7% in the fourth quarter. Mariner LLC now owns 7,367 shares of the company's stock worth $320,000 after purchasing an additional 653 shares during the last quarter. Hsbc Holdings PLC raised its position in GXO Logistics by 117.8% during the fourth quarter. Hsbc Holdings PLC now owns 23,486 shares of the company's stock valued at $1,021,000 after acquiring an additional 12,704 shares in the last quarter. Nebula Research & Development LLC purchased a new position in GXO Logistics during the fourth quarter valued at approximately $221,000. Quarry LP raised its position in GXO Logistics by 1,334.9% during the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock valued at $54,000 after acquiring an additional 1,148 shares in the last quarter. Finally, Northern Trust Corp raised its position in GXO Logistics by 23.6% during the fourth quarter. Northern Trust Corp now owns 1,005,232 shares of the company's stock valued at $43,728,000 after acquiring an additional 191,648 shares in the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

GXO Logistics Trading Down 0.3%

NYSE GXO traded down $0.14 on Wednesday, reaching $51.11. 502,513 shares of the company were exchanged, compared to its average volume of 1,411,912. The business's fifty day moving average price is $51.23 and its 200 day moving average price is $43.39. The stock has a market capitalization of $5.85 billion, a P/E ratio of 96.44, a price-to-earnings-growth ratio of 2.11 and a beta of 1.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.87. GXO Logistics, Inc. has a fifty-two week low of $30.46 and a fifty-two week high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last announced 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 return on equity of 10.45% and a net margin of 0.50%.The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the company posted $0.55 EPS. The company's quarterly revenue was up 15.9% on a year-over-year basis. Analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup lifted their price target on GXO Logistics from $56.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. lifted their price target on GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and lifted their price target for the company from $48.00 to $62.00 in a research report on Friday, July 11th. UBS Group lifted their price target on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price objective on GXO Logistics from $57.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $59.50.

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.