Ameriprise Financial Inc. Sells 130,114 Shares of GXO Logistics, Inc. (NYSE:GXO)

Ameriprise Financial Inc. reduced its holdings in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 304,961 shares of the company's stock after selling 130,114 shares during the period. Ameriprise Financial Inc. owned about 0.26% of GXO Logistics worth $13,266,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of GXO Logistics by 28.9% during the 3rd quarter. Barclays PLC now owns 62,545 shares of the company's stock valued at $3,256,000 after acquiring an additional 14,020 shares in the last quarter. Kirr Marbach & Co. LLC IN lifted its holdings in GXO Logistics by 57.1% during the 4th quarter. Kirr Marbach & Co. LLC IN now owns 155,720 shares of the company's stock valued at $6,774,000 after purchasing an additional 56,581 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in GXO Logistics by 55.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,957 shares of the company's stock valued at $303,000 after purchasing an additional 2,482 shares during the last quarter. Proficio Capital Partners LLC bought a new position in GXO Logistics during the 4th quarter valued at about $1,255,000. Finally, Raymond James Financial Inc. bought a new position in GXO Logistics during the 4th quarter valued at about $20,905,000. 90.67% of the stock is currently owned by institutional investors and hedge funds.

GXO Logistics Price Performance

Shares of NYSE GXO traded down $0.80 during trading on Friday, reaching $39.64. The company had a trading volume of 580,789 shares, compared to its average volume of 1,274,131. GXO Logistics, Inc. has a 52 week low of $30.46 and a 52 week high of $63.33. The stock has a market cap of $4.53 billion, a PE ratio of 35.39, a PEG ratio of 1.34 and a beta of 1.56. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.86 and a current ratio of 0.83. The business's 50 day moving average price is $37.50 and its 200-day moving average price is $43.52.

GXO Logistics (NYSE:GXO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.03. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.94 billion. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. GXO Logistics's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. Analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Analysts Set New Price Targets

GXO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GXO Logistics in a report on Friday, March 7th. They set a "hold" rating and a $45.00 price target for the company. Loop Capital downgraded shares of GXO Logistics from a "buy" rating to a "hold" rating and cut their price target for the company from $71.00 to $49.00 in a report on Monday, February 3rd. Stifel Nicolaus reissued a "buy" rating and set a $66.00 price target (down from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Barclays cut their price target on shares of GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Finally, Truist Financial dropped their target price on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.57.

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.