GXO Logistics, Inc. (NYSE:GXO) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in shares of GXO Logistics, Inc. (NYSE:GXO - Free Report) by 50.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,373 shares of the company's stock after selling 223,321 shares during the period. Bank of America Corp DE owned about 0.18% of GXO Logistics worth $9,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GXO. Kovitz Investment Group Partners LLC increased its holdings 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. Norges Bank purchased a new position in GXO Logistics during the fourth quarter valued at approximately $55,266,000. Vaughan Nelson Investment Management L.P. purchased a new position in GXO Logistics during the fourth quarter valued at approximately $47,626,000. Alyeska Investment Group L.P. purchased a new position in GXO Logistics during the fourth quarter valued at approximately $46,523,000. Finally, River Road Asset Management LLC increased its holdings in GXO Logistics by 53.5% during the fourth quarter. River Road Asset Management LLC now owns 2,008,168 shares of the company's stock valued at $87,355,000 after buying an additional 699,636 shares during the period. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Performance

Shares of GXO traded up $0.69 during trading hours on Thursday, reaching $41.63. 1,184,602 shares of the company traded hands, compared to its average volume of 1,278,209. The stock has a market capitalization of $4.76 billion, a P/E ratio of 37.17, a P/E/G ratio of 1.34 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33. The business has a fifty day moving average price of $37.53 and a 200-day moving average price of $42.99.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.94 billion. GXO Logistics had a net margin of 1.14% and a return on equity of 11.16%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. Equities analysts anticipate that GXO Logistics, Inc. will post 2.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GXO has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of GXO Logistics from $60.00 to $44.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of GXO Logistics in a report on Friday, March 7th. They issued a "hold" rating and a $45.00 price target on the stock. Loop Capital lowered shares of GXO Logistics from a "buy" rating to a "hold" rating and cut their price target for the stock from $71.00 to $49.00 in a report on Monday, February 3rd. Morgan Stanley cut their price target on shares of GXO Logistics from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Finally, Oppenheimer cut their price target on shares of GXO Logistics from $67.00 to $55.00 and set an "outperform" rating on the stock in a report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.57.

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.