Hsbc Holdings PLC Sells 10,959 Shares of GXO Logistics, Inc. $GXO

Key Points

• Hsbc Holdings PLC has reduced its stake in GXO Logistics, Inc. by 46.7%, now holding shares worth $490,000 after selling 10,959 shares in the first quarter.
• Several institutional investors, including Larson Financial Group LLC and UMB Bank n.a., significantly increased their positions in GXO Logistics during the same period.
• Analysts have raised target prices on GXO Logistics, with UBS Group and JPMorgan Chase raising their targets to $58.00 and $65.00 respectively, indicating a generally positive sentiment with a consensus rating of "Moderate Buy."

Hsbc Holdings PLC lessened its holdings in GXO Logistics, Inc. (NYSE:GXO - Free Report) by 46.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,527 shares of the company's stock after selling 10,959 shares during the quarter. Hsbc Holdings PLC's holdings in GXO Logistics were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in GXO Logistics by 2,460.7% in the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock worth $28,000 after purchasing an additional 689 shares during the period. GAMMA Investing LLC raised its position in GXO Logistics by 57.0% in the 1st quarter. GAMMA Investing LLC now owns 832 shares of the company's stock worth $33,000 after purchasing an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new position in GXO Logistics in the 1st quarter worth $34,000. Covestor Ltd raised its position in GXO Logistics by 63.2% in the 1st quarter. Covestor Ltd now owns 1,645 shares of the company's stock worth $64,000 after purchasing an additional 637 shares during the period. Finally, UMB Bank n.a. raised its position in GXO Logistics by 135.6% in the 1st quarter. UMB Bank n.a. now owns 1,762 shares of the company's stock worth $69,000 after purchasing an additional 1,014 shares during the period. Hedge funds and other institutional investors own 90.67% of the company's stock.

GXO Logistics Trading Up 2.3%

Shares of NYSE GXO traded up $1.18 during midday trading on Friday, hitting $52.56. 928,941 shares of the company traded hands, compared to its average volume of 906,521. GXO Logistics, Inc. has a 12-month low of $30.46 and a 12-month high of $63.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50-day moving average price of $51.43 and a 200 day moving average price of $43.63. The firm has a market cap of $6.02 billion, a P/E ratio of 99.18, a P/E/G ratio of 2.11 and a beta of 1.65.

GXO Logistics (NYSE:GXO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $3.09 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. GXO Logistics's quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that GXO Logistics, Inc. will post 2.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GXO. Wells Fargo & Company lifted their target price on shares of GXO Logistics from $57.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Stifel Nicolaus boosted their price objective on shares of GXO Logistics from $63.00 to $67.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. UBS Group boosted their price objective on shares of GXO Logistics from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Susquehanna boosted their price objective on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GXO Logistics from $56.00 to $65.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.50.

GXO Logistics 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.