Vanguard Group Inc. Grows Stock Holdings in GXO Logistics, Inc. (NYSE:GXO)

Key Points

• Vanguard Group Inc. increased its stake in GXO Logistics by 0.3% during the first quarter, holding approximately 11.37 million shares worth $444.37 million.
• Recent analyst upgrades have boosted price targets for GXO Logistics, with Truist Financial raising its target from $48.00 to $62.00 and Citigroup from $56.00 to $59.00.
• GXO Logistics reported a quarterly earnings per share (EPS) of $0.57, surpassing the consensus estimate of $0.56, and recorded revenues of $3.30 billion, exceeding expectations of $3.09 billion.

Vanguard Group Inc. grew its stake in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,370,657 shares of the company's stock after acquiring an additional 37,852 shares during the period. Vanguard Group Inc. owned 9.71% of GXO Logistics worth $444,365,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can grew its stake in GXO Logistics by 27.4% during the fourth quarter. Bank of Montreal Can now owns 24,112 shares of the company's stock worth $1,049,000 after buying an additional 5,184 shares in the last quarter. Raymond James Financial Inc. bought a new position in GXO Logistics during the 4th quarter worth approximately $20,905,000. Treasurer of the State of North Carolina raised its holdings in GXO Logistics by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 51,616 shares of the company's stock worth $2,245,000 after purchasing an additional 330 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of GXO Logistics by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,957 shares of the company's stock worth $303,000 after buying an additional 2,482 shares during the period. Finally, Barclays PLC grew its position in shares of GXO Logistics by 70.1% during the 4th quarter. Barclays PLC now owns 106,404 shares of the company's stock worth $4,629,000 after buying an additional 43,859 shares during the period. 90.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GXO. Oppenheimer boosted their price target on shares of GXO Logistics from $55.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Susquehanna boosted their price objective on GXO Logistics from $58.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Truist Financial raised GXO Logistics from a "hold" rating to a "buy" rating and upped their target price for the stock from $48.00 to $62.00 in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group upped their target price on GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.50.

GXO Logistics Stock Performance

GXO Logistics stock traded down $1.08 during midday trading on Friday, hitting $52.55. The company's stock had a trading volume of 982,838 shares, compared to its average volume of 1,179,671. 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 current ratio of 0.76 and a quick ratio of 0.76. The company has a 50-day moving average price of $49.21 and a two-hundred day moving average price of $42.55. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 99.15, a PEG ratio of 1.91 and a beta of 1.64.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.01. GXO Logistics had a net margin of 0.50% and a return on equity of 10.45%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the firm posted $0.55 EPS. The company's quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

GXO Logistics Company 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.