GXO Logistics, Inc. (NYSE:GXO) Shares Bought by Citigroup Inc.

Key Points

• Citigroup Inc. has significantly increased its stake in GXO Logistics, raising its holdings by 215.9% to own approximately 0.19% of the company, valued at about $8.9 million.
• Equity analysts have predominantly issued positive ratings for GXO Logistics, with the consensus price target raised to $59.50 and a "Moderate Buy" rating.
• In its latest earnings report, GXO Logistics reported $3.30 billion in revenue and an EPS of $0.57, surpassing analysts' expectations for the quarter.

Citigroup Inc. raised its position in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 215.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,176 shares of the company's stock after acquiring an additional 155,939 shares during the quarter. Citigroup Inc. owned approximately 0.19% of GXO Logistics worth $8,917,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State of Michigan Retirement System boosted its stake in shares of GXO Logistics by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 28,627 shares of the company's stock valued at $1,119,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of GXO Logistics by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 33,500 shares of the company's stock valued at $1,309,000 after buying an additional 300 shares during the period. GAMMA Investing LLC boosted its stake in shares of GXO Logistics by 57.0% in 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 during the period. State of Alaska Department of Revenue boosted its stake in shares of GXO Logistics by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 14,004 shares of the company's stock valued at $547,000 after buying an additional 380 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of GXO Logistics by 2.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 18,430 shares of the company's stock valued at $720,000 after buying an additional 430 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna lifted their price objective on GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, August 7th. Truist Financial upgraded GXO Logistics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. Stifel Nicolaus boosted their target price on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. boosted their target price on GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company boosted their target price on GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

GXO Logistics Trading Down 2.0%

GXO opened at $52.55 on Friday. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 99.15, a price-to-earnings-growth ratio of 1.91 and a beta of 1.64. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The business's 50 day moving average is $49.21 and its two-hundred day moving average is $42.57. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87.

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, topping the consensus estimate of $0.56 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. GXO Logistics had a return on equity of 10.45% and a net margin of 0.50%. The firm's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, research analysts predict that GXO Logistics, Inc. will post 2.49 EPS for the current 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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