Asset Management One Co. Ltd. Cuts Stock Position in GXO Logistics, Inc. (NYSE:GXO)

Asset Management One Co. Ltd. decreased its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 25.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,626 shares of the company's stock after selling 23,546 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of GXO Logistics worth $2,721,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in GXO Logistics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 11,332,805 shares of the company's stock worth $492,977,000 after purchasing an additional 212,254 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of GXO Logistics by 3.8% during the 4th quarter. Clearbridge Investments LLC now owns 4,228,144 shares of the company's stock worth $183,924,000 after purchasing an additional 153,522 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of GXO Logistics by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,798,170 shares of the company's stock worth $121,718,000 after buying an additional 50,682 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in GXO Logistics by 28,112.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,621,515 shares of the company's stock valued at $114,036,000 after buying an additional 2,612,223 shares during the period. Finally, Spruce House Investment Management LLC grew its position in GXO Logistics by 133.3% during the fourth quarter. Spruce House Investment Management LLC now owns 2,100,000 shares of the company's stock valued at $91,350,000 after buying an additional 1,200,000 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GXO has been the topic of several research reports. Citigroup lowered their price objective on shares of GXO Logistics from $51.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Stifel Nicolaus increased their price target on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company boosted their price objective on GXO Logistics from $44.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. 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 objective on the stock. Finally, Susquehanna reissued a "positive" rating and issued a $58.00 price target (up previously from $57.00) on shares of GXO Logistics in a research report on Tuesday, June 24th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.79.

GXO Logistics Price Performance

NYSE:GXO traded up $0.52 during trading hours on Thursday, hitting $51.05. The stock had a trading volume of 1,602,336 shares, compared to its average volume of 1,537,439. The company has a 50 day simple moving average of $41.92 and a two-hundred day simple moving average of $41.07. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 82.34, a P/E/G ratio of 2.29 and a beta of 1.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.78 and a quick ratio of 0.78. GXO Logistics, Inc. has a one year low of $30.46 and a one year high of $63.33.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.03. GXO Logistics had a net margin of 0.61% and a return on equity of 10.49%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm posted $0.45 earnings per share. GXO Logistics's quarterly revenue was up 21.2% on a year-over-year basis. Research analysts forecast that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal 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.