Bank of America Corp DE Has $9.41 Million Stake in GXO Logistics, Inc. (NYSE:GXO)

Bank of America Corp DE trimmed its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 50.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,373 shares of the company's stock after selling 223,321 shares during the quarter. Bank of America Corp DE owned 0.18% of GXO Logistics worth $9,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of GXO Logistics during the fourth quarter worth $41,000. Summit Securities Group LLC increased its stake in GXO Logistics by 870.9% in the 4th quarter. Summit Securities Group LLC now owns 1,000 shares of the company's stock worth $44,000 after purchasing an additional 897 shares in the last quarter. Quarry LP raised its holdings in GXO Logistics by 1,334.9% during the 4th quarter. Quarry LP now owns 1,234 shares of the company's stock worth $54,000 after buying an additional 1,148 shares during the period. R Squared Ltd purchased a new stake in GXO Logistics during the fourth quarter valued at about $54,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in GXO Logistics by 33.7% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,380 shares of the company's stock valued at $60,000 after buying an additional 348 shares in the last quarter. Institutional investors own 90.67% of the company's stock.

GXO Logistics Stock Up 4.9%

GXO traded up $1.93 during midday trading on Tuesday, hitting $41.56. 964,357 shares of the company's stock traded hands, compared to its average volume of 1,274,899. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.86. The company has a market cap of $4.76 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The stock's fifty day simple moving average is $37.48 and its 200-day simple moving average is $43.14. 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 quarterly earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The company 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%. GXO Logistics's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. As a group, equities analysts anticipate that GXO Logistics, Inc. will post 2.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of GXO Logistics in a research report on Friday, March 7th. They issued a "hold" rating and a $45.00 target price on the stock. Truist Financial lowered their price objective on shares of GXO Logistics from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus reiterated a "buy" rating and set a $66.00 price target (down previously from $74.00) on shares of GXO Logistics in a report on Friday, February 14th. Barclays reduced their price objective on GXO Logistics from $52.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Finally, UBS Group dropped their target price on GXO Logistics from $72.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, GXO Logistics presently has a consensus rating of "Moderate Buy" and a consensus 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.