Moody National Bank Trust Division Takes Position in GXO Logistics, Inc. $GXO

Key Points

• Moody National Bank Trust Division has acquired a new position in GXO Logistics, purchasing 6,805 shares valued at approximately $331,000 in the 2nd quarter.
• Analysts are optimistic about GXO Logistics, with multiple firms raising their price targets, resulting in an average target price of $59.50 and a rating of "Moderate Buy."
• GXO Logistics reported $3.30 billion in revenue for the last quarter, exceeding expectations, and saw a 15.9% increase in year-over-year revenue.

Moody National Bank Trust Division bought a new position in GXO Logistics, Inc. (NYSE:GXO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,805 shares of the company's stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of GXO Logistics by 2,460.7% during the 1st quarter. Larson Financial Group LLC now owns 717 shares of the company's stock valued at $28,000 after buying an additional 689 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of GXO Logistics by 57.0% in the first quarter. GAMMA Investing LLC now owns 832 shares of the company's stock valued at $33,000 after acquiring an additional 302 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of GXO Logistics in the 1st quarter worth approximately $34,000. Northwestern Mutual Wealth Management Co. lifted its stake in GXO Logistics by 72.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 945 shares of the company's stock valued at $37,000 after acquiring an additional 396 shares during the period. Finally, Covestor Ltd raised its position in GXO Logistics by 63.2% during the first quarter. Covestor Ltd now owns 1,645 shares of the company's stock worth $64,000 after acquiring an additional 637 shares during the period. 90.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target 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. Susquehanna upped their target price on shares of GXO Logistics from $58.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, August 7th. Stifel Nicolaus raised their price objective on GXO Logistics from $63.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. JPMorgan Chase & Co. lifted their target price on GXO Logistics from $56.00 to $65.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Citigroup raised their price objective on GXO Logistics from $56.00 to $59.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, GXO Logistics has an average rating of "Moderate Buy" and an average target price of $59.50.

GXO Logistics Stock Performance

GXO traded up $0.70 during mid-day trading on Tuesday, reaching $50.56. 391,566 shares of the company traded hands, compared to its average volume of 1,376,536. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $5.79 billion, a P/E ratio of 95.50, a P/E/G ratio of 1.99 and a beta of 1.65. GXO Logistics, Inc. has a 52-week low of $30.46 and a 52-week high of $63.33. The company's fifty day moving average price is $51.46 and its 200-day moving average price is $44.55.

GXO Logistics (NYSE:GXO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. GXO Logistics's quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts expect that GXO Logistics, Inc. will post 2.49 EPS for the current year.

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.