Korea Investment CORP Takes Position in XPO, Inc. $XPO

Key Points

• Korea Investment CORP acquired 84,365 XPO shares during the second quarter, worth approximately $17.3 million and representing 0.07% of the company. Institutional investors and hedge funds collectively own 97.73% of XPO.
• XPO reported stronger-than-expected quarterly results, with $1.70 in earnings per share versus the $1.48 consensus estimate and revenue of $2.35 billion, up 13.2% year over year.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $225.86; several firms recently raised their targets to between $238 and $270.

Korea Investment CORP acquired a new stake in XPO, Inc. (NYSE:XPO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 84,365 shares of the transportation company's stock, valued at approximately $17,319,000. Korea Investment CORP owned 0.07% of XPO as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XPO. Renaissance Technologies LLC increased its holdings in shares of XPO by 73.3% during the 1st quarter. Renaissance Technologies LLC now owns 178,720 shares of the transportation company's stock valued at $34,770,000 after purchasing an additional 75,600 shares in the last quarter. Border to Coast Pensions Partnership Ltd purchased a new stake in shares of XPO during the 1st quarter worth about $36,048,000. K.J. Harrison & Partners Inc acquired a new stake in shares of XPO during the 2nd quarter valued at about $4,927,000. Bank of New York Mellon Corp increased its stake in shares of XPO by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 716,747 shares of the transportation company's stock valued at $139,443,000 after purchasing an additional 6,167 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in XPO in the 2nd quarter worth about $2,985,276,000. 97.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at XPO

In other XPO news, Director Allison Landry sold 2,400 shares of XPO stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $215.61, for a total transaction of $517,464.00. Following the completion of the sale, the director directly owned 4,849 shares in the company, valued at $1,045,492.89. This trade represents a 33.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Michael Brown sold 3,750 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $201.94, for a total transaction of $757,275.00. Following the completion of the sale, the chief accounting officer directly owned 31,005 shares in the company, valued at $6,261,149.70. This trade represents a 10.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,400 shares of company stock worth $1,526,502 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

XPO Price Performance

NYSE:XPO opened at $198.74 on Monday. XPO, Inc. has a 52 week low of $121.48 and a 52 week high of $232.05. The stock's fifty day moving average is $205.54 and its two-hundred day moving average is $205.25. The company has a market capitalization of $23.27 billion, a P/E ratio of 58.63, a P/E/G ratio of 2.01 and a beta of 1.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.55.

XPO (NYSE:XPO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.22. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.28 billion. XPO had a return on equity of 29.64% and a net margin of 4.71%.The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Equities analysts expect that XPO, Inc. will post 5.44 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research raised XPO from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 4th. Benchmark boosted their target price on XPO from $220.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Stephens lifted their price objective on XPO from $255.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Oppenheimer upped their target price on XPO from $236.00 to $238.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Finally, UBS Group lifted their price target on XPO from $236.00 to $257.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.86.

About XPO

XPO Logistics, Inc is a global provider of transportation and logistics services, offering a broad portfolio of solutions designed to optimize supply chains for businesses of all sizes. The company's operations span freight brokerage, less-than-truckload (LTL) shipping, full truckload transportation, last-mile delivery, contract logistics and global forwarding. XPO aims to leverage advanced technology and operational expertise to drive efficiency, visibility and reliability across end-to-end supply-chain networks.

In its freight brokerage segment, XPO connects shippers to a network of carriers through digital platforms that facilitate rate comparisons, booking, tracking and settlement.

Want to see what other hedge funds are holding XPO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XPO, Inc. (NYSE:XPO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source