GXO Logistics, Inc. (NYSE:GXO) Shares Acquired by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC increased its stake in GXO Logistics by 27%, acquiring over 708,000 additional shares, bringing their total to approximately 3.33 million shares valued at $130.14 million.
• Analysts have raised their target prices for GXO Logistics, with Susquehanna setting a new target of $60 and four analysts issuing a "hold" rating while ten recommend a "buy."
• GXO Logistics reported a 15.9% year-over-year revenue increase in its latest quarterly earnings, achieving $3.30 billion in revenue, and earnings per share of $0.57, exceeding expectations.

Kovitz Investment Group Partners LLC lifted its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 27.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,330,176 shares of the company's stock after purchasing an additional 708,661 shares during the quarter. Kovitz Investment Group Partners LLC owned about 2.91% of GXO Logistics worth $130,143,000 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 grew its holdings in shares of GXO Logistics by 2,460.7% in the first quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of GXO Logistics in the first quarter valued at about $34,000. Quarry LP grew its holdings in shares of GXO Logistics by 1,334.9% in the fourth quarter. Quarry LP now owns 1,234 shares of the company's stock valued at $54,000 after purchasing an additional 1,148 shares during the period. Finally, Covestor Ltd grew its holdings in shares of GXO Logistics by 63.2% in the first quarter. Covestor Ltd now owns 1,645 shares of the company's stock valued at $64,000 after purchasing an additional 637 shares during the period. Hedge funds and other institutional investors own 90.67% of the company's stock.

Wall Street Analyst Weigh In

GXO has been the subject of a number of analyst reports. Susquehanna upped their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Oppenheimer increased their target price 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. Stifel Nicolaus increased their target price 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. Barclays increased their target price on shares of GXO Logistics from $45.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, UBS Group increased their target price 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. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, GXO Logistics currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.

GXO Logistics Stock Up 4.6%

Shares of GXO opened at $53.76 on Thursday. The stock has a market capitalization of $6.15 billion, a PE ratio of 101.44, a P/E/G ratio of 1.86 and a beta of 1.64. 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's 50-day simple moving average is $48.77 and its 200-day simple moving average is $42.49.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.01. The business had revenue of $3.30 billion for the quarter, compared to analysts' expectations of $3.09 billion. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The business's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. Analysts forecast 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.

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